The financial sector is vitalin the global economy and includes a wide range of businesses, from banks and insurers to investment companies and pension funds. One of the biggest challenges for this sector is ensuring constant network uptime. This is vital because financial transactions take place at any time of the day, at any time of the week. Even a minor network interruption can lead to loss of revenue, dissatisfied customers and reputational damage.
Another important aspect is the high level of security expected in the financial sector. The privacy of customer information and financial data is crucial and must be protected at all times. Hackers and cybercriminals are constantly looking for ways to access this data and it is up to financial institutions to combat these threats and maintain a high level of security.
In addition, the operating costs for a 24/7 high-speed connection are too high, especially if financial institutions use expensive MPLS connections. This can lead to significant strain on finances, so it is essential to find ways to reduce operating costs without compromising network quality and reliability.