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An IT provider can be so much more than a helpdesk—with the right partner, you can increase revenue and show your clients that you care deeply about their data security. In the banking industry, an IT provider can be the difference between recovering from a cyberattack or closing your doors.
Needless to say, picking the right provider is a huge decision. If you’ve been feeling like you’re not getting the support and solutions you need, don’t be afraid to consider making a switch.
Here is what you should look for when finding a new IT professional for your bank:
Do You Own Your Data and Hardware?
When it comes to your bank’s sensitive data and the infrastructure that houses it, ownership is key. You want to ensure that your potential IT provider believes in giving you the keys to your own “city.”
Ask them if you’ll have full control over your data and if the hardware infrastructure will be exclusively dedicated to your bank. Having complete ownership empowers you to make critical decisions regarding security protocols, data storage, and disaster recovery plans.
Plus, it offers peace of mind, knowing that your valuable assets are not shared or compromised in any way.
Does Your Provider Stagger Hardware, Hosting, and Licensing?
When you partnered with your provider, you may have signed contracts that locked you into receiving services at certain times. So, say your hardware contract is coming to an end and you’ve decided to go somewhere else.
But what about your hosting and licensing contracts? If they have different dates, you’re stuck waiting around for them to expire before you can switch providers.
It’s important to review the different contracts and timelines so that they don’t prevent you from making a change in the future. Make sure your provider does not stagger options for hardware, hosting, and licensing so that you can remain responsive to changing business needs.
Does Your Provider Outsource Their Customer Support?
When it comes to customer support, the phrase “direct line of communication” holds great significance. Find out if your prospective IT provider handles customer support in-house or outsources it to third-party vendors.
When you partnered with this provider, you were choosing their customer service—not a third-party that doesn’t know anything about your business.
Having direct access to a dedicated and knowledgeable support team that understands the intricacies of your banking operations can make all the difference during critical situations.
It enables faster response times, efficient issue resolution, and a deeper understanding of your specific needs and requirements.
How Well Does Your Provider Know the Banking Industry?
Who would you prefer to make your dinner: Gordon Ramsay or your local pizza delivery boy? Just like you wouldn’t want an inexperienced chef experimenting with your favorite recipes, you need an IT professional who understands the ins and outs of the banking industry.
A provider that works primarily with banks will have a comprehensive understanding of industry-specific regulations, compliance standards, security protocols, and best practices.
Their familiarity with core providers, compliance standards, and risk management will ensure a smoother integration of IT solutions tailored to your banking operations.
Is Your Provider Owned Regionally?
The question of ownership goes beyond your bank’s assets; it extends to your provider as well. Consider the advantages of partnering with a regionally-owned IT provider. Regional ownership often translates to a deeper understanding of the market, cultural nuances, and challenges specific to your geography. They may also be more familiar with working with your core provider, internet service provider to other regional vendors
Additionally, regional providers are more accessible, allowing for face-to-face meetings and quicker response times. They are invested in the success of their community and often foster stronger relationships with their clients, providing a higher level of personalized service and support.
Is Your Provider SOC 2 Audited?
Security and compliance are paramount in the banking industry. Ensure that your IT service provider undergoes regular third-party audits to determine the adequacy of the service provider’s standards, policies, and procedures relating to internal controls, facilities management, privacy protections, maintenance of records, business resumption contingency planning, systems development and maintenance, and employee background checks.
A SOC2 audit provides independent verification of your provider’s commitment to maintaining a robust and secure IT infrastructure, reducing potential risks, and enhancing trust. You should be able to review these audit reports to determine whether the audit scope, internal controls, and security safeguards are adequate.
Find Everything You’re Looking for With RESULTS Technology
If you’re looking at your current IT professional and feel like their service is under the bar, it might be time to look for a new one. Make sure you do your due diligence and check out the points above before making a decision.
With the right IT provider, your bank can maximize its potential and ensure compliance with industry regulations.
Schedule a consultation with RESULTS Technology today. Businesses throughout Kansas and Missouri choose our team because we know the banking industry like the back of our hand! We’re regional, audited, and dedicated to personalized service.
Give us a call today and find out why we’re the best choice for your financial institution.
