The Use of ITSM Tools in the Financial Sector

Operational efficiency, data security and regulatory compliance — these three key pillars determine the success of financial institutions. Digital transformation continues to increase the banking sector’s dependence on IT technologies, which forces organizations to use advanced solutions that not only automate processes but also provide full control over their IT infrastructure. What benefits does the use of ITSM tools bring to the financial sector?

ITSM Tools in Banking — Why Are They So Important?

Banking is one of the most demanding industries in terms of IT service management. Access to sensitive customer and organizational data as well as countless financial resources means that institutions need reliable tools to support process management. One such tool is the ITSM system. What is ITSM? In short, it is a solution that enables the delivery, management and improvement of IT services at every stage of the service lifecycle.

ITSM in Managing the IT Infrastructure of Financial Institutions

The IT infrastructure in banking includes both transactional systems responsible for transferring funds between accounts and solutions supporting data analytics or customer communication. Managing such a complex environment requires full visibility and control over all its elements. ITSM tools enable centralized management of IT infrastructure configuration and allow for rapid responses in the event of suspicious incidents, giving specialists the ability to quickly eliminate failures and minimize losses.

ITSM in Ensuring Compliance with Legal Regulations

Financial institutions are required to comply with numerous regulations related, among others, to personal data protection, the security and transparency of payment transactions, and anti–money laundering measures. How does an ITSM system help meet these requirements? Our solution is equipped with the OXARI Asset Management automatic inventory module, ensuring constant access to information about the company’s physical and digital assets. This means administrators can be confident that company equipment is used safely, in accordance with regulations, and by individuals with the proper permissions.

ITSM and Data Security in the Financial Sector

Modern cyber threats such as ransomware or phishing attacks force the banking sector to continuously strengthen data protection. ITSM tools support the security of IT systems through user permission control, activity tracking and automatic updates.

Monitoring the status of hardware, licenses or software thanks to automatic inventory ensures maximum protection of assets and, consequently, the data collected and processed. Access to historical data also provides necessary information on how specific assets were used by a given employee if a suspicious event is detected — we know who had access to the equipment and what operations were performed at a given time.

Wondering how modern software helps manage IT infrastructure in other sectors? Discover how Asset Management performs in the medical industry!

Process Automation in Finance with ITSM Tools

ITSM tools are used to transform manual, time-consuming processes into automated operations executed by a dedicated, centralized system. Automating financial processes related to money flow and customer service enables:

• Shorter task completion times — processes such as ticket handling or change management can be carried out faster and more efficiently.
• Reduced risk of human error — automation of routine tasks decreases the number of mistakes.
• Optimization of operational costs — automation allows banks to reduce expenditures on manual process handling performed by employees.

Benefits of Implementing ITSM in the Financial Sector

Implementing ITSM tools provides financial institutions with measurable benefits related to improved efficiency, increased security and compliance with applicable regulations.

Increased Operational Efficiency

ITSM systems standardize and automate IT processes, leading to faster task execution and better resource utilization. Standardizing processes and automating repetitive tasks allow financial institutions to allocate resources more effectively and respond more quickly to changing market needs.

Improved Service Quality

Better resource and incident management helps banks provide the highest level of customer service. Efficient incident management reduces the number of failures and helps avoid costly downtime, thereby minimizing the number of complaints from impatient customers. Fast problem resolution and standardized service processes increase customer satisfaction, loyalty and trust in financial institutions.

Regulatory Compliance

ITSM tools provide solutions that support data monitoring and documentation. Transparent financial institutions can easily provide auditors with complete information, ensuring compliance with legal requirements and avoiding consequences resulting from potential violations.