Banks, especially smaller banks, have limited resources for managing multiple devices, projects and branches; plus an ever-growing need to meet heightened regulatory and security policies. IT administrators are expected to keep all bank systems technology compliant, secure and available at all times.
IT administrators that have embraced bank systems technology via automation believe that computers are the best possible tool for managing networks and devices for regulatory compliance. Computer IT automation removes the human error factor that banks run into when tasking employees with repetitive manual projects that could easily be automated. Anytime you can remove the human element and rely instead on a machine to handle repetitive tasks, accuracy rates rise and human resources can be refocused on more complex issues.
Computer automation also helps banks deal effectively with the constant growth in governmental regulations. Through automation, banks can report verification of compliance and then focus on exceptions (where the problems existed). All actions and functions are fully accountable and easily accessed via the platform’s systems management reporting tools.
Banks can have up to the minute status information on all systems and security parameters. Reports for internal use and for external auditors can be produced at the push of a button resulting in peace of mind for bank administrators. They, and the external bank examiners, know that the bank’s network is under control and proper security measures are in place.
IT automation delivers relief from the administration, monitoring and helpdesk chores that eat up time and resources. IT departments reap immediate time and personnel savings, while reducing licensing fees for software maintenance. Regulatory compliance is easier as are the reporting tasks associated with data, communication and financial reporting that are required from all financial institutions, regardless of size.
Automated bank systems technology is helping financial institutions of all sizes work smarter, better and faster. And where large banks have been using automation for decades, we’re seeing an increasing number of small to mid-sized institutions taking the same route in the interest of saving time, money and hassle.