The flow of data and information is essential in every industry. As technology evolves, the importance of streamlined, efficient data processes has grown as well. Financial institutions, especially, are beginning to realize that making this happen internally is not only getting more and more expensive, but the ROI for their on-premise data center is not paying off.
With the sheer volume of personal and private data being collected by financial institutions, it is imperative to seek out greater levels of security. Today’s modern colocation data centers can offer a multi-layered security approach. These physically secure spaces ensure the safe collection, storage, and transfer of valuable financial data.
Data center colocation is becoming the norm and often considered essential for financial institutions. With an ever increasing need for mobile services, the introduction of AI & blockchain technologies not to mention the collection of terabytes of personal information, colocation data centers are stepping up to meet the demand. With reliable uptime, layered security and the diverse connectivity needed to expand access and network capabilities, today’s modern, carrier dense data centers have a bright future partnering with the financial industry.
Aid in Compliance
Financial institutions must be compliant with the requirements of state and federal regulations. These state and federal regulations are intended to ensure that banks and institutions are trustworthy and transparent, working cohesively for their customers. But keeping up with compliance standards can be expensive and resource-intensive. Colocation providers help financial institutions meet these regulations by not only keeping data secure but offer environments that are cost-effective when determining risk assessments and compliance requirements for IT infrastructure.
Recovery from Disasters
There are many potential natural and manmade disasters that could affect the transfer, collection, and security of data moving between customers and various financial institutions. By utilizing a colocation data center, banking and financial institutions are protecting themselves from a wide array of physical and network risks. In contrast to storing valuable data and managing infrastructure in an on-premise facility, colocation providers can offer a geo-diverse location helping to ensure data and equipment are kept safe and available if a DR plan is activated. Also, at many provider facilities it is not uncommon to often find additional disaster recovery work space that can be reserved and utilized in case of a declared event.
Enables More Efficient Financial Trading
A great deal of growth has been seen in financial trading with the technological advancements found in today’s modern smartphones. The development of trading and mobile bank apps have made it possible for more people than ever to engage in managing their own investments and participate in professional or one off stock trading, This growth has increased the demand for financial institutions utilizing colocation data centers. When it comes to online trading, colocation data centers can often reduce the latency to execute time sensitive trades and auctions. Colocation data centers streamline the trading process by offering multiple connectivity options, making it faster and more effective to keep up with high-frequency trading.
Finding a Financial Data Center
Any financial institution that is looking to move its IT infrastructure to a colocation provider will want to find a mission-critical facility that can provide the convenience, ease, and security they’re looking for. Along with assisting in compliance, providing disaster recovery, and streamlining connectivity, many colocation data centers are locally owned and operated, offering high levels of service and expertise in specific business markets..
RACK59 is a professional colocation data center that meets the security needs of financial institutions. Secure, powerful, and flexible, RACK59 is a customized provider designed to serve banks and other financial institutions.
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