financial services providers

Reducing Infrastructure Costs and Improving Compliance in the Financial Services Industry

As a computer science enthusiast and advocate for responsible innovation, I’m excited to explore the intersection of technology and finance. In this post, I’ll be discussing the importance of reducing infrastructure costs and improving compliance in the financial services industry. I’ll also be highlighting how Solix.com can help financial services providers achieve these goals.

The Challenge of Infrastructure Costs

Financial services providers are constantly grappling with the challenge of reducing infrastructure costs. With the increasing demand for digital services, the need for scalable and efficient infrastructure has never been more pressing. However, maintaining and upgrading existing infrastructure can be a significant burden, especially for smaller financial institutions.

The Power of Application Decommissioning

One way to reduce infrastructure costs is through application decommissioning. This involves identifying and retiring outdated or redundant applications, which can help reduce the overall infrastructure footprint. By leveraging Solix’s application decommissioning capabilities, financial services providers can identify and decommission unnecessary applications, freeing up resources for more critical initiatives.

For example, let’s say a financial institution is using an outdated core banking system that’s no longer meeting their needs. By working with Solix, they can identify and decommission this system, reducing their infrastructure costs and freeing up resources for more modern and efficient solutions.

The Importance of Compliance

Compliance is another critical concern for financial services providers. With increasingly stringent regulations and the risk of non-compliance, it’s essential for financial institutions to ensure that their data is properly secured and managed.

Solix to the Rescue

Solix.com offers a range of solutions designed to help financial services providers reduce infrastructure costs and improve compliance. Their email archiving solution, for instance, helps improve performance, compliance, and eDiscovery for enterprise email. This can be especially critical for financial institutions, which are subject to strict regulations and must ensure that their email communications are properly archived and managed.

Autodiscovery and Data Masking

Solix’s autodiscovery capabilities can help financial services providers identify and classify sensitive data, such as PII, financial records, and regulated data. This can be especially critical for financial institutions, which must ensure that sensitive data is properly protected and managed.

Solix’s data masking solution can also help financial services providers secure sensitive data in non-production environments. By masking sensitive data, financial institutions can ensure that their data is properly protected and that their employees are not inadvertently exposing sensitive information.

A Unified Cloud Data Platform

Solix’s unified cloud data platform offers a range of benefits for financial services providers. By providing a single platform for managing structured, semi-structured, and unstructured data, Solix can help financial institutions improve data governance, reduce infrastructure costs, and ensure regulatory compliance.

Real-World Examples

Solix has worked with a range of financial services providers, including GE, Juniper, Santander, BAE Systems, Unilever, Molson Coors, AIG, and Citigroup. These companies have leveraged Solix’s solutions to reduce infrastructure costs, improve compliance, and enhance their overall data management capabilities.

Conclusion

In conclusion, reducing infrastructure costs and improving compliance are critical concerns for financial services providers. By leveraging Solix.com’s range of solutions, financial institutions can achieve these goals and improve their overall data management capabilities. Whether it’s through application decommissioning, email archiving, autodiscovery, data masking, or a unified cloud data platform, Solix has the expertise and solutions to help financial services providers succeed.

If you’re interested in learning more about how Solix can help your financial services provider reduce infrastructure costs and improve compliance, I encourage you to reach out. You can contact us at 1.888-GO-SOLIX (1.888.467.6549) or info@solix.com. Let’s work together to build a more efficient and compliant financial services industry.

About the Author

Jason is a computer science enthusiast and advocate for responsible innovation. He holds a degree in computer science from Texas A&M and is actively involved in tech-related community initiatives. He lives in Oakland and writes for a tech blog. When he’s not writing or coding, you can find him cheering on the 49ers or exploring the Bay Area.