Security Spending For Financial Software Services Is On the Rise, Will It Be Enough?


Financial institutions throughout the market are increasing their spending on security platforms to protect information. This is a positive trend, but there are some who are asking if this is enough. Why the debate? If you take a close look at the financial software systems industry, there is a rapid movement toward transactions while on the go.

Consumers are increasingly using their mobile devices to access financial software services within banks and other institutions to complete transactions. Hackers know this is happening and have therefore targeted this space in hopes of gaining access to proprietary information and a whole lot of cash.

Financial Software Services Firm Launches Microsite

One innovation coming out of this space has been developed by Systems Alliance. As a systems integrator, this financial software services company provides high-value IT, business and web consulting services. Most recently, the company has announced the development and launch of WSFS Bank’s microsite.

WSFS Bank will leverage the “Switch to WSFS” site to anchor its cross-channel marketing campaign. This campaign not only leverages financial software services, it also promotes the advatages of doing business with WSFS as it highlights the strong community roots combined with quality service offered by the bank.

Financial Software Services to Exceed Expectations in Security and Service

To effectively compete in the financial software services space, organizations are focusing in on high-quality customer service, apps that allow for mobile banking and added products and services to appeal to the masses. All of these things are great and will help the company to grow, but without proper security platforms in place, all users could be at risk. If anything were to happen to data or a customer’s funds because the bank failed to properly apply the right protection, that could easily mean the end of a successful run for the financial services institution.

For WSFS, the idea was to extend the power of the brand and this focus was built into the strategy for the development of a highly effective microsite. Now, customers can easily switch to WSFS Bank on this site.

Spending Continues for Security in Financial Software Services

There are some who are quickly questioning whether or not there is too much risk placed within the financial software services industry. Surprisingly, as much risk as there is to conducting business online and through mobile devices, banking is one area that has been able to enjoy strong growth. For some reason, consumers have placed their faith in financial software services  to provide the necessary support and coverage so that their information is never at risk. While this may seem like complacency, this is one turn the financial software services industry cannot take.

Malicious activities and hackers will always try to get one step ahead and as soon as the guard is lowered, mobile banking as you know it will change forever. In all honesty, spending in financial software services as it adheres to security for your information and your finances will need to continue and a proactive approach can help to ensure the decisions make by these institutions will always be for the protection of its customers.

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