In today’s banking environment, connectivity is more critical than ever!
For banks and financial institutions with multiple locations, slow or lost network connections can hinder a bank’s revenue and growth.
According to Bain & Company, banks have recently lost over $200 billion due to operational issues, which include poor connectivity.
In addition, these issues can increase a bank’s reputational risk and lead to legal problems. More than ever, the financial sector needs to remain focused on a high level of secure, reliable network connectivity, and “always on” communication.
A Software-defined Wide Area Network (SD-WAN) is a good option for many banks to stay up-to-speed with the financial industry’s digital transformation.
What is SD-WAN and how can it help banks?
There’s a lot of talk about SD-WAN, but maybe you don’t know exactly what it is or why it was developed. With old-school WAN management, Multi-Protocol Label Switching (MPLS), data transmission is very limited, and often very expensive. It also doesn’t allow for network visibility and customization. A Software-defined Wide Area Network (SD-WAN) is a virtual network that leverages any combination of transport services to securely connect users to applications. It can send data between various locations; for example, remote branches, data centers, cloud instances, and the devices of employees working from home. In short, SD-WAN can meet your business needs faster and more effectively.
More than ever, companies of all sizes are turning to enterprise-grade SD-WAN technology. It delivers internet-based networking to solve their WAN architecture challenges, and it simplifies how businesses provision and manage networks across several locations.
What are some specific benefits of SD-WAN to your organization?
Enhanced Customer Experience
- Helps ensure a positive customer experience by keeping your online services available and performing responsively
- Reinforces outstanding customer service by providing your employees with systems that consistently deliver optimal performance
Stronger Technical Leadership
- Delivers resilient and responsive infrastructure to improve customer and employee experience as well as growth
- Improves system performance and further support your digital transformation (include link to digital transformation post after it goes live) goals
Improved Financial Performance
- Gives your organization the ability to increase profitability by optimizing systems for better performance and ROI
More benefits of SD-WAN over WAN
One of the most expensive IT budget line items can be the WAN. This can result in insufficient bandwidth at branches and other locations, leading to poor user experiences. The right SD-WAN platform can provide 10 times the bandwidth at half the cost.
WAN is prone to faults, but SD-WAN is designed for failover and chooses the best path every time. In addition, SD-WAN improves productivity, speeds performance and ensures a more resilient network.
Learn more about SD-WAN benefits in our blog post.
Ready to learn more?
Contact us for a no-cost, no-obligation consultation and find out if SD-WAN can improve your connectivity.
Glen joined WIN Technology 10 years ago and is currently a Network Engineer. He has nearly 20 years of IT experience, 10 of which have been in the Telecommunications Industry. At WIN, he focuses on 10Gbps Ethernet, 100Gbps+ Ethernet, optical carrier transport systems and purpose-built WAN solutions for our customers. He is also the Product Owner of the SD-WAN Service Line and works with a cross-departmental team dedicated to SD-WAN. He is currently certifications in AWS and Microsoft Azure in order to better help our customers achieve their goals with data and communications infrastructure.