Why DaaS is the Ideal Solution for Financial Institutions

Introduction:

In today’s fast-paced financial world, where data holds immense value and serving a global clientele is the standard, traditional desktop solutions often struggle to keep up. Whether offering investment guidance or managing funds, the criticality of financial data and the need to cater to clients worldwide demand a more adaptable and secure approach to desktop computing.

That’s where Desktop as a Service (DaaS) steps in to transform how financial institutions work globally. DaaS offers virtual desktops through cloud-based technology, making it a modern solution for users. This package includes a secure network with VPN access and built-in Identity management for protecting critical systems.

One of the key benefits of DaaS is that it frees IT teams from the usual tasks:

• Predicting
• Buying
• Setting up storage
• Computing resources

This user-friendly solution is readily accessible through trusted third-party  DaaS providers like LayerOne Networks, which offers virtual desktops with a pay-per-usage pricing model. It guarantees uninterrupted access to full Windows-based desktops and crucial business applications. Users can conveniently access these resources from nearly any device, no matter where they are located.

This blog post will explore why DaaS is preferred for financial institutions looking to boost their growth.

7 Effective Reasons to Incorporate Desktop as a Service (DaaS) in Financial Organizations

The right DaaS solution from LayerOne Networks improves performance and optimizes security, making it extremely beneficial to financial services institutions. Here’s how:

Round-the-Clock Accessibility

In the financial services sector, where transactions are conducted around the clock, being always available to clients is essential. Today’s customers are tech-savvy, using online platforms and mobile devices for their financial needs. They expect their service providers to offer the same level of speed and accessibility.

Furthermore, financial professionals in our interconnected global market often serve clients in different time zones. However, the traditional approach of working solely from local desktops can be limiting. It requires professionals to stay at their desks throughout the day, making it challenging to serve clients effectively when they are away from the office.

Financial services organizations need to remain adaptable and flexible to meet the demands of their “always-on” customers. DaaS solutions, accessible from any device, anytime, and anywhere, empower finance professionals to serve clients seamlessly, whether in the office, on the road, or working from home. This level of accessibility suits the needs of today’s financial service providers and their varied customers.

Security

Financial Services (FinServ) companies are entrusted with highly sensitive customer information, making them prime targets for hackers seeking to compromise businesses or demand ransoms. Not surprisingly, the financial industry is a prime target for cybercriminals.

The pandemic witnessed some of the most significant cyberattacks in history. What is the reason behind this surge? Businesses hastily adopted new collaboration tools like Microsoft Teams and expanded their VPN infrastructure to facilitate remote access to critical onsite applications and data. This expansion was imperative to maintain business operations as close to normal as possible.

However, this rapid shift resulted in employees accessing their company’s critical systems and data from various home routers, Wi-Fi connections, and personal devices. This access introduced a host of new security vulnerabilities, prompting businesses to reevaluate their endpoint security and management strategies.

Competent Desktop as a Service (DaaS) providers like LayerOne Networks deploy security protocols across multiple layers to address these evolving security challenges. This approach includes data encryption during transmission from your endpoint device and secure storage on the server. Furthermore, the network is under constant 24/7 surveillance to detect anomalies in data traffic.

Daas Services also includes robust access controls to prevent unauthorized entry. Centralizing all mission-critical applications and data via DaaS eliminates the risks associated with multiple endpoint devices. Additional security measures include

• Intrusion Detection and Prevention
• Multi-factor Authentication
• DDoS Protection

These collective data security solutions ensure the safety of sensitive financial data and enhance the overall security posture of financial organizations, fortifying their defenses against potential breaches and cyber threats.

Scalable Desktops

Financial institutions operate on a continuous growth path, consistently adding new clients and expanding their services. Hence, they need a flexible infrastructure to adjust to their changing business needs. Traditional local desktops, on the other hand, arrive with fixed configurations and necessitate replacement if the financial processes expand.

DaaS services provide a solution by offering flexible desktops that can be instantly scaled. Because these desktops are virtual, their configurations can be easily customized to meet specific requirements. You can request your DaaS provider to add or remove system resources as needed, providing financial institutions the agility to grow and adapt without the hassle of replacing hardware.

Disaster Recovery

Even a minor issue with your local desktop can disrupt financial operations for a few hours. However, in a significant disruptive incident, such as an earthquake or a large-scale cyberattack, financial processes can come to a standstill for days or even result in permanent damage.

LayerOne Networks, a reputable Desktop as a Service (DaaS) provider in Corpus Christi, offers robust disaster recovery plans to ensure uninterrupted workflow, even in the face of a disaster. Our disaster recovery services ensure your financial processes are copied in various data centers.

Consequently, if one data center is affected by a disaster, your access seamlessly shifts to identical desktops created in other data centers. The shift is so smooth that you might not even realize a catastrophe happened, guaranteeing business continuity and protecting financial operations.

Customized Solutions

Financial institutions house diverse departments, including financial advisors, accountants, HR, customer support, etc. Each department relies on different applications and possesses unique desktop requirements. Procuring various desktop types for other personnel can be daunting for the local IT team. 

However, partnering with IT consulting firms like ours, offering Desktop as a Service (DaaS), unlocks a solution with highly customizable desktops. Through desktop pooling, desktops within a group can be tailored to meet the specific needs of different departments. 

Moreover, desktops within a pool can be collectively configured, simplifying the process of addressing the diverse requirements of various departments without the complexities of managing multiple types of physical desktops.

Cost Reduction

Financial institutions allocate a substantial portion of their budget to IT infrastructure. This allocation includes the purchase of physical desktops from vendors, electricity and air conditioning expenses to maintain these desktops, and deploying a dedicated IT team for desktop maintenance. These processes cumulatively result in substantial costs for financial institutions.

Collaborating with efficient Daas service providers transforms the IT expenditure of financial services from a capital expense into a predictable operating cost. Most DaaS providers offer a comprehensive suite of services for a fixed per-user, per-month subscription fee. This approach allows enterprises to pay only for the users currently utilizing the platform, with the flexibility to scale up or down as needed. Additionally, they gain access to a team of experts who can ensure their system remains up-to-date and secure, all without requiring ongoing investment from the business.

Financial organizations can also implement a Bring Your Own Device (BYOD) policy, enabling employees to use their personal devices. Since DaaS eliminates the need for on-premises desktops, the associated maintenance costs are significantly reduced or even eliminated. This change in cost structure provides financial institutions with a more cost-effective and flexible way to handle their IT infrastructure. It helps them allocate resources more strategically and efficiently.

Efficiency Boost

Desktop as a Service (DaaS) streamlines the management of critical IT tasks such as:

• Installations
• Virus protection
• Security updates
• Software upgrades

The process is more efficient and reduces disruptions for your team. Gone are the days when IT teams had to intervene with individual machines to resolve issues physically. Many of these crucial tasks can now quietly operate in the background, often without end-users noticing.

Additionally, financial professionals often find themselves juggling multiple applications simultaneously, each of which consumes system resources. Traditional desktops become outdated and need regular replacement. 

However, DaaS providers implement an advanced High-Performance Computing (HPC) environment for virtual desktops. This setup allows multiple applications to run simultaneously, improving performance. As a result, financial professionals can work efficiently without system delays or resource restrictions, boosting overall productivity.

Ready to Transform Your Financial Services with DaaS?

Desktop as Service (DaaS) has emerged as a game-changer in IT solutions, offering tailored desktop experiences to diverse industries worldwide. The financial sector is no exception, as it’s rapidly realizing the unmatched agility and efficiency that DaaS brings to financial services. 

Many prominent players in Corpus Christi’s financial landscape, including investment firms, banks, private equity companies, accounting firms, and insurance providers, have already chosen to partner with LayerOne Networks to leverage the benefits of DaaS.

If you’re eager to unlock these benefits and streamline the growth of your financial services, the time to act is now. By partnering with us, you can harness the agility, security, and cost-efficiency of Desktop as a Service to stay ahead in the competitive financial landscape. 

Don’t miss out on this opportunity – contact us today to initiate the transformation of your financial institution.