Cause and Effect: If you build it, will they come?

July 23, 2014
/   Spotlight

Many financial institutions assume that digital banking is lucrative because the most valuable customers happen to bank online. While there is certainly a correlation between online bankers and higher profitability, quantitative evidence suggests that...

Fast Facts: Student Loans

January 22, 2013
/   Insights

The Financial Services Roundtable recently released another iteration of its Fast Facts, reliable, bullet-point research about issues facing the financial services industry. Topics span TARP, Dodd-Frank, insurance, lending, retirement savings and more.  Below are some updated Fast...

Intuit 2020 Report: The Future of Financial Services

April 11, 2011
/   Insights

Today, Intuit released the latest edition of the Intuit 2020 report, Intuit 2020 Report: The Future of Financial Services, which identifies and examines four key trend areas that will  transform the financial services industry...

The Top 10 Trends in the Digital Banking Industry

December 18, 2013
/   Spotlight

2014 is rapidly approaching and as the year wraps, the Digital Insight team has pulled together the top 10 trends in the digital banking industry based on data and trends from studying financial institutions....

Small Business: Perception vs. Reality

November 21, 2012
/   Insights

In the most recent election cycle, like most others before it, the one sector of the economy that got the most attention was small business.  This is the future, we were told by every...

Making Banking Fun: Gamification in Financial Services

August 5, 2013
/   Insights

Recently, the Banking.com team sat in on American Banker’s webinar, “Gamification in Financial Services: Five Proven Ways to Get an Edge,” which shared how leading brands in financial services have applied gamification to reach...

Technology M&As: The Beats Go On

May 29, 2014
/   Insights

The ongoing fascination with Apple’s $3 billion purchase of Beats Electronics is entirely understandable, because it’s a cool story. However, it also says a lot about what’s going on between finance and tech.

What We’re Reading

May 5, 2011
/   Spotlight

Below are interesting stories the Banking.com staff has been reading over the past week. What have you been reading? Let us know in the comments section below. Virtual Banking Worlds Provide Tangible Lessons American...

Today’s successful banking institutions must quickly adapt to dynamic business environments, deploy new technologies, and deliver consistent online services to meet their customer’s needs – anytime, anywhere, and with whatever device they choose. Success for banks will in large part, be based on their data center and networking infrastructure.

Yet, banks face numerous technology challenges, such as maintaining regulatory compliance, ensuring business continuity while moving data over long distances for backup and replication, and avoiding network security risks. In today’s Internet-driven economy, slow and unreliable network connectivity is a road block for servicing customers and supporting branch office employees. Banks must keep branch office employees productive, so they can provide the best services to their customers. The potential impact can result in the loss of customers, revenue, employee productivity, and regulatory noncompliance.  Slow and unreliable networks can impede employees from reviewing loan portfolios, servicing mortgages and other banking operations. Wide area network (WAN) optimization solutions enable banks to deliver fast, reliable and secure network connectivity, to deliver the performance needed for applications from business process management (BPM) to processing loans, and other crucial operations.

The delay from long distances combined with limited bandwidth and network congestion can significantly degrade the performance of centralized applications. When branch employees use applications that are hosted at headquarters, network congestion and the distance the applications must travel can increase the time it takes to log into remote servers, download files, fulfill queries, etc. Slow and unreliable applications over wide area networks leaves employees and online customers frustrated, as they rely on critical banking and enterprise applications to conduct their daily business.

With WAN optimization, data transfers are faster and log-ins are within a fraction of a second, so branch office users like financial analysts and loan processors can focus on operations and compliance. Online customers can review their checking, savings, loans, credit cards and other accounts – and spend less time waiting for applications to load.

WAN optimization has become a strategic solution for navigating the traffic maze and freeing bandwidth to create smoother and more efficient network connectivity. Many of these products can eliminate more than 80 percent of redundant data from the WAN, to speed application delivery, shorten data transfers times and reduce bandwidth consumption. Eliminated are the protocol inefficiencies that undermine application responsiveness. By overcoming the underlying network challenges, banks are able to get the most out of their existing bandwidth. This allows them to delay, and even eliminate expensive bandwidth upgrades.

However, finding a cost-effective solution to accelerate applications and remote data backup is one of the most challenging issues for small and medium sized banks. It requires more than just a “Band-Aid” approach. The solution must prove to be reliable and cost-effective for the long term.

Data reduction technologies, like that of Sangfor’s, can solve banks’ network challenges, enable a remote backup to be more than twice as fast as before, and the company’s bandwidth is freed up by more than 50 percent.

With a cost-effective WAN optimization solution, banks can improve application delivery to branch employees connecting to centralized banking applications, speed remote data backup connectivity for IT personnel, and improve online connectivity for their customers.

Marc Goodman is an independent marketing consultant for Sangfor Technologies. He has over 30 years of experience marketing networking products and services. Marc has served in various marketing capacities for F5 Networks, Riverbed, Silver Peak, and Array Networks.

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Voices

Compelling voices and contributed content from around the web

James W. Gabberty

Gabberty is a professor of information systems at Pace University in New York City. An alumnus of the Massachusetts Institute of Technology and New York University Polytechnic Institute, he has served as an expert witness in telecommunication and information security at the federal and state levels and holds numerous certifications from SANS & ISACA.

Brad Strothkamp

http://www.forrester.com/rb/analyst/brad_strothkamp

Marisa Mann

Marisa Mann brings over 15 years of experience in consulting and financial services industries to the Solstice team, working on large scale enterprise initiatives across many technologies, including specializing in the digital space – Internet and mobile. Mann is passionate about mobile and the endless possibilities for the enterprise, delivering business value through strong brand recognition and driving to excellence in the consumer experience. Prior to Solstice, Mann worked at JP Morgan Chase, Diamond Management and Technology Consultants, Washington Mutual, Inc, and Accenture.

Zachary Ehrlich

25-year-old writer, and as a native San Franciscan, I am unreasonably loyal to Bank of America, if only for their superhero-like origin story, involving the 1906 earthquake and Italian fruit vendors.