Addressing IT Challenges in Financial Services
Financial services companies enable a steady stream of intricate transactions—all of which are underpinned by an increasingly complex array of systems, services, and applications. Many forward-looking financial institutions have evolved to include multiple clouds, hyper-converged infrastructures, virtual machines, and containers to house massive quantities of transactional data and processes. In an age where customers expect round-the-clock services, it’s imperative for these organizations’ IT infrastructures to run smoothly 24/7, from everyday services to major events like mergers and cyber-attacks. The slightest disruption can undermine customer trust and loyalty, causing them to take their business elsewhere.
Amid a myriad of pressures, some of the largest IT challenges financial services organizations face include:
- Gaining complete visibility into IT infrastructure
- Pinpointing the root cause of service issues
- Improving time to resolution
- Keeping up with rapidly evolving technology
- Optimizing resource allocation
When financial services companies rely on legacy systems that don’t offer full visibility into the status of IT infrastructure, it’s difficult to address these and other challenges, leaving operational efficiency and customer experience at risk.
Addressing Infrastructure Challenges with AIOps
Despite intricacies and challenges, financial services organizations don’t need to remain in a state of struggle and anxiety. ScienceLogic specifically created its ITOps platform with commonplace IT hurdles in mind, allowing businesses, like financial services organizations, to harness the power of AIOps and empower visibility, efficiency, and peace of mind for customers and IT professionals alike.
The ScienceLogic platform is an infrastructure monitoring and AIOps platform that delivers complete network visibility, real-time data and analytics, and the power to automate incident response. With the platform, financial services organizations always know the status of their networks, and powerful automations enable current and potential issues to be proactively identified, diagnosed, and remediated. The result – more efficient operations, minimized downtime, and happier customers.
By embracing AIOps through the ScienceLogic platform, financial institutions can realize a wealth of benefits, including:
- Comprehensive observability: The platform enables real-time asset discovery, data ingestion, and contextual analytics, which ensure financial institutions to know the status of all components of their technology estate every moment of every day.
- Root cause identification: Leveraging the ScienceLogic platform enables financial organizations to diagnose root causes quickly and fix problems before they affect customers. More specifically, the platform utilizes AI and machine learning (ML) for automated root cause analysis, which easily correlates millions of IT events and logs to pinpoint the specific service issue with impressive 96% accuracy.
- Automated remediation: The ScienceLogic AIOps platform goes beyond automated issue identification to resolution, resolving up to 50% of incidents without any human intervention. By automating both root cause analysis and incident management, the platform gets services back online in seconds or minutes instead of hours or days. The results are tangible: a 94% faster time to resolution and restoration. ML integrations also detect subtle performance changes to minimize downtime and reduce incidents by 75%.
- Seamless device integration: The comprehensive AIOps suite is engineered to work seamlessly with new technologies and make integration simple, from mobile banking applications for on-the-go retail customers, to a complex network of products and partners for commercial banking. The ability to easily onboard new financial tools, applications, and services without disrupting operations sets the ScienceLogic platform apart.
- Reduced operational costs: With the platform as the basis for building powerful process automations, financial institutions can reduce costly manual effort and the risk of human error, eliminating duplicative IT management tools and allowing IT staff to focus on higher-value tasks.
The Bottom Line
Financial institutions must be “always on,” serving their customers seamlessly 24/7, lest they put themselves at risk to competition. Digital and mobile banking can greatly improve convenience and please customers—but even a short outage can undermine hard-earned trust. Without the AI and automation capabilities delivered by AIOps, organizations leave themselves vulnerable to sunk cost and customer dissatisfaction. With AIOps, on the other hand, financial institutions can keep customers coming back be offering reliable service and a compelling array of products without any interruption.
AIOps powered by the ScienceLogic platform takes reliability, resilience, and stability to the next level with real-time discovery, monitoring, and analysis of the entire IT infrastructure.
Financial services estates can be complex and challenging, but monitoring and managing them doesn’t need to be. Learn more about how the platform can improve your IT infrastructure, schedule a demo today.
