A credit union's IT infrastructure can rarely keep pace with its growth. At the rate banking is evolving, technology can be outdated only shortly after installation; it's known as the “revolving technology wheel.” Managing the challenges of IT systems and infrastructure can be a cumbersome process for any sized credit union. Consequently, technology wish lists get longer and resources run very thin. As an alternative, many credit unions are turning toward trusted third parties to manage their IT infrastructures in a secure cloud platform.
Such cloud solutions can provide the same network essentials (including servers, storage, network and operating systems) as an on-demand service that offers credit unions access to whatever degree they need. In return for outsourcing hardware, technology management, and IT security and compliance responsibilities to dedicated experts, credit unions gain a more secure operating environment, better business resiliency, more predictable costs, and the freedom and flexibility to focus on member needs.
Security
As financial services move to a real-time baseline with faster payments and new security vulnerabilities, adjusting security and compliance at the same rate has become increasingly demanding. Consider just the critical aspects of maintenance needed to keep systems patched and remediating vulnerabilities, a time consuming and seemingly thankless task. That's in addition to the time spent monitoring infrastructure health and following up with vendors to check on problem resolution. These instances alone can reveal significant cost savings through previously untapped efficiencies, as credit unions that move to an outsourced IT infrastructure can expect to save time in their maintenance schedules.
Business Resiliency
Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
