The Digital Transformation Your Financial Organization Needs
Published: April 20, 2023
In today's fast-paced world, businesses must adapt to changing technology trends to stay relevant and competitive. Digital transformation is necessary for organizations that want to stay ahead of the curve. Financial institutions are digitally transforming to use modern technologies to improve business operations, customer experiences, and organizational efficiencies.
One critical element of digital transformation is having a modern network infrastructure that can support the new technologies being implemented. A modern network can help your organization achieve its digital transformation goals by providing the foundation for the new digital technologies and applications that are being used.
The network is a crucial element affecting every financial firm process. It drives their operations, workflows, internal communications, customer interactions... everything they do on a daily basis. Regardless of where they work, employees access the network for applications, information and services, all of which require more bandwidth than ever. Network resiliency and availability are critical pieces of the formula for success.
Why is a Modern Network Essential for Digital Transformation Projects?
Digital transformation is necessary to help organizations become more agile, responsive and competitive. A modern network can help organizations achieve this by providing the necessary speed, agility and security to support digital transformation initiatives. By investing in a modern network, businesses can improve their ability to innovate, compete and serve customers in the digital age. The importance of a modern network cannot be overstated, especially for financial organizations. In a previous blog, we discussed the benefits of legacy migration and how it can help organizations modernize their networks. However, taking it one step further, a modern network is necessary to support digital transformation initiatives in financial organizations. With a modern network in place, financial organizations can streamline their business operations, improve customer experiences and achieve better outcomes. For example, a modern network can help businesses manage complex networks more efficiently, resulting in better organizational efficiencies and higher productivity. Learn how you can make your network the MVP of your business!
How Some Financial Institutions Are Already Seeing Success
When a modern network is put in place, the results that financial organizations can see and the additional technologies they can utilize are amazing. For example, Banca Popolare di Sondrio, an Italian banking institution, implemented ExtremeCloud SD-WAN to enhance application performance and management. The bank improved its network performance, reliability and security by implementing the SD-WAN solution. The SD-WAN technology allowed the bank to manage its network more efficiently, resulting in better customer experiences and organizational efficiencies.
“As we evolve our digital services, it offers us a solid foundation to better plan our future network requirements and the flexibly to add capacity in a seamless way to meet our business goals.” - Claudio Libera, Network Engineer for Banca Popolare di Sondrio.