Managed IT Services for Financial Institutions in Toronto

Financial institutions, such as banks, brokerage firms, mortgage lenders, and insurance companies, use technology. Technology allows them to complete their jobs securely, efficiently, and effectively while adhering to a strict compliance protocol. Financial institutions require a service provider who understands IT for the financial services industry.

Unified Technicians specializes in managed IT services for financial institutes. We provide processes that enhance how institutions do their jobs. Our team is committed to fulfilling the following practices:

• Allow institutions to realize economies of scale, allowing you to remain ahead of your competition.
• Offer an extensive selection of managed IT for financial institutions tailored to your needs.
• Pay attention to client needs to determine their requirements and to assist them in achieving total business alignment.

IT Services Tailored for Financial Institutions in Toronto

Managed IT Service Providers (MSP) are a form of outsourcing in which an institution hires third-party organizations to provide full or partial access to its IT services. When contemplating how much to outsource, it is essential to be knowledgeable about the MSP’s services and type.

The benefits of managed IT services for financial industries are as follows:

• Proactive IT Maintenance: This service prevents cybercrime and operational issues or delays. Managed IT providers will detect and flag concerns, resolving the problem before significant damage is done to the system.
• Robust Cybersecurity Measures: Data leaks and breaches are top threats in the finance industry. Across industries, the financial sector is one of the top cyberattack targets because of the value and amount of data it contains. To decrease risk, partnering with MSPs is ideal—even if your institution has an IT department. MSPs provide access to more extensive tools and techniques, improving data security.
• Regulatory Compliance: Financial industries are highly regulated because each institution contains thousands to millions of confidential client information. If the system undergoes a malicious attack, a large-scale issue results. To ensure your data remains protected, each institution must prioritize protecting all its data. Our providers ensure your internal regulations and systems remain compliant with industry standards.
• Scalability: Trends can quickly change, and your IT system must adjust. Adjustments can be upward or downward depending on the needs. Third-party IT provides knowledgeable consultants who can better assist you in making transitions, whether expanding or downsizing..

Benefits of Outsourcing IT Services in the Financial Sector in Toronto

Cost Efficiency and Reduced Overhead

Creating and maintaining competent IT departments requires significant investments. While you can build a team equipped and uniquely trained to handle the bank’s needs, you will be responsible for keeping them up-to-date, which requires time. Furthermore, regulatory and cybersecurity environments are continually becoming more complex, causing costs to rise accordingly to acquire new talent and retain employees.

Outsourcing IT through an MSP allows institutions to save time, money, and resources and focus on strategy improvements and business growth. Most institutions report it takes six months to find experienced cybersecurity experts. In contrast, by outsourcing your needs, you will find the right person with the qualifications you need at your disposal.

Consider the following benefits you can expect from investing in IT services for financial industries:

Scalability for Growing Financial Institutions

As a financial institution experiences transformation and growth, an IT service provides flexibility and scalability to adapt to your needs. For example, cloud computing allows institutions to expand their computational resources when needed. It eliminates the requirement for expensive infrastructure investment.

By leveraging a cloud-based solution, institutions can adjust operations, seamlessly integrate new technology, and accommodate increases in workload.

Minimizing Downtime and Ensuring Business Continuity

By outsourcing your IT needs, professionals specialized in network administration for financial solutions act as an extension of the team. They are available regardless of sick days, vacations, short—or long-term leaves, etc. It gives your institution continuity by avoiding interruptions, allowing you to work at peak performance.

Access to Advanced Technology and Expertise

Skilled experts remain current regarding technological advances. Financial institutions can use this cutting-edge technology without covering the costs associated with investing in it. Managed providers continually update their systems and remain current with emerging trends, ensuring you always receive the best technology.

Comprehensive Cybersecurity for Financial Institutions in Toronto

Regulatory Compliance and Security Standards

Financial institutions operate within a strict regulatory environment that establishes guidelines to ensure the integrity and security of financial systems and protect consumers. Regulations mandate financial institutions to incorporate cybersecurity measures.

Proactive Threat Monitoring and Incident Response

With rising incidences of cybercrime, financial institutions require a multi-layered security platform. Unified Technicians’ support and expertise enable you to obtain peace of mind, knowing your institution and network systems remain secure from breaches.

We monitor network changes and security liabilities (weaknesses), including the following:

• Newly added users and devices
• Failed user logins
• Locked-out personal and company devices

Our experts collect and analyze data on the IT environment’s external and internal risks and security weaknesses. We provide a monthly IT security management plan and risk review, prioritizing and noting threats. Additionally, we offer Managed Security, Data Backup, and Disaster Recovery for additional support.

Why Choose Us for Managed IT Services in Financial Services in Toronto?

Expertise in Financial IT Services

Our professionals deeply comprehend a financial institution’s unique needs and requirements. We know the stringent regulations that banks must follow and the ever-evolving use of technology. Our expertise allows us to remain current with technological advances and provides a vast knowledge of what a client in this industry requires.

Customized IT Solutions for Financial Institutions

We provide adaptable, customized software which evolves with your institution’s changing needs and industry trends. Our systems give a competitive edge through superior experience, unique features, and a tailored approach.

Our team will help you create modern banking products with recommendations, predictions, and cluster analysis engines. Our clients can access optimization tools, marketing personalization, and biometrics data analysis.

Advanced Cybersecurity Practices

Our advanced cybersecurity practices include encryption to safeguard sensitive information at rest and in transit within a banking system. We also use essential management practices and strong cryptographic algorithms to prevent data breaches, unauthorized access, and eavesdropping attempts.

If you are looking to invest in IT services for financial institutes, you should consider multi-factor authentication. It involves a text/email copy and paste of a number to access bank accounts, reducing attacks by 99.22%.

AI-driven anomaly detection revolutionizes cybersecurity by proactively enabling real-time behavioural analysis and threat detection, and identifying anomalies. It leverages pattern recognition, advanced analytics, and predictive modelling to notify you of suspicious activity, behavioural deviations, and cyber threats evading signature-based detection.

Contact Unified Technicians in Toronto and Secure Your Company Today

With financial institutions being prime targets for cybercrimes and their strict adherence to regulations, it is imperative to remain with a company that comprehends your unique situation and what your institution may require. It’s not enough to have someone with general IT knowledge. You need an expert in this industry who understands all the complexities involved.

If you need IT support for your financial services, contact us toll-free at 844-277-0505 or 416-UNIFIED (864-3433) for a consultation, and our team will assess your cybersecurity and IT requirements. You can also reach us by filling out our online form. We are available 24/7 to discuss your concerns.