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A Look at Today's Financial Services: Where Can an Advanced Service Desk Help?

07/06/2016 by: The SunView Team

Financial institutions have undergone considerable operational changes over the last decade, necessitating greater security over the information providers use to conduct day-to-day business. What are some of the ways banking has shifted recently, and how might advanced ITSM service desk software ready the industry for a new direction while still staying attentive to security?

Keep All Compliance Under Control
Financial service providers manage a significant amount of sensitive data on their customers, transactions and internal operations, all of which must be kept under lock and key.

That said, it's not enough to simply say you're compliant - that's for the regulators to decide. Perhaps no other industry understands that better than financial services, where new standards for walling off sensitive data seemingly grow exponentially as the sector innovates and evolves in a digital market. While no software product, service or technique guarantees full compliance all the time, IT service management frameworks such as ITIL provide a flexible and agile foundation on which any organization can build solid configurations and support networks.

To that end, advanced ITIL-compatible service desk software not only takes advantage of the scalability and customization ITIL is known for, but augments its functionality with safeguards that compliance officers will appreciate, such as: historical audit trails, ad hoc report creation, and workflow transparency on each ticket. ITSM managers can also configure their own dashboards complete with real-time data visualizations, as well as set up notifications, based on pre-programmed metrics and KPIs.

Changing Payment Technology
Banks and other financial service institutions have gone mobile - a 2016 report from the Federal Reserve showed a steady increase in mobile banking over the last few years, as well as a remarkable amount of popularity for payment apps through mobile devices.

How banking customers choose to manage their money, as well as the means by which they spend it, inform how financial service providers scale or alter their configurations vis-a-vis change management. But as will any burgeoning consumer tech holding and distributing the transfer of sensitive data, the institutions capitalizing on their popularity must mitigate the attached risks.

Mobility is still a new frontier for banking, and as such these businesses ought to invest in the kinds of ITSM offerings capable of organizing, prioritizing and assessing whatever threat might lurk just out of sight. Support infrastructure must not only defend mobile architectures admirably, but operate effectively over them as well. Suites like ChangeGear Service Desk come mobile-ready. In addition, its modularity allows for full ITSM single-platform integration including all the components that help keep mobile banking - and the institutions behind it - safe from trouble.

Enhance Relationship with Third-Party Security Vendors
According to a 2015 SANS Institute survey, just under half of all financial service institutions depend on security technology and software manufactured outside the industry. By outsourcing a portion of its IT to companies without a stake in the sector, it is believed third parties could potentially foresee and preempt threats to secure configurations in ways entrenched stakeholders cannot.

However successful this arrangement might be for some banks, it is incomplete without an advanced service desk component to centralize both low- and high-tier risks found in configurations by any and all users. A distributed model for checks and balances requires a single intuitive pipeline accessible and understood by all parties, regardless of IT expertise.

One crucial element separating ChangeGear Service Desk from other support offerings is its codeless configurations. Users with varying degrees of technological prowess - even none whatsoever - can utilize this platform to view tickets, create visualizations, edit workflow or automate processes for greater efficiency. Service desk software that standardizes and simplifies user experiences effectively promotes its adoption, as well as the strength of the collaboration happening within.