Warwick-based Atrion Networking Corp., a provider of information technology and managed services, is partnering with Middlesex Savings Bank to organize an informational forum on role of “Always On” technology in banking. The forum will take place on from 8:30 a.m. to noon on March 2 at the Courtyard Marriott Hotel in Marlborough, Mass. Chris Poe, Atrion chief technology officer, answered a few questions about the topic of the forum.
PBN: First of all, what is your definition of “Always On” in the context of this forum with Middlesex Savings Bank?
POE: Relative to this conversation, “Always On” is not one defined product or service. Rather, it is a philosophical approach to IT [information technology] that, at its core, focuses on ensuring that business-impacting technologies and applications are available whenever they are called upon. In that sense, “Always On” differs based upon organizational need. Some businesses have 24/7/365 operations, while others are 8 a.m. to 5 p.m. Monday-Friday shops. In many cases, as it is with banking, organizations may utilize a combination of business services or processes at different times. In banking, services such as ATMs, for example, have 24/7/365 requirements, while a loan-underwriting process may only be critical during the business day. If these key technologies and applications were to fail during any part of their required timeframe, business would be significantly affected, if not halted completely. Every element of technology, no matter how seemingly innocuous, should be evaluated to determine which business processes are reliant upon it and ensure that all of those elements are treated with the level of priority at least equal to that of the processes they support. This is the comprehensive approach to “Always On.”
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PBN: I guess a key question that will be answered at the forum is: What role does “Always On” have in banking?
POE: “Always On” plays much the same role in banking as it does across all industries. The technology MUST be there when it is called upon. One critical business and customer retention role “Always On” plays in banking is online banking. As Sean Burke [information technology director at Middlesex Savings Bank], who will be speaking with me at the forum on March 2, noted at a recent Always On event, “the days of banker’s hours are long gone.” Customers demand instant, secure and easy access to their information and accounts. Meeting that need ensures a bank will attract new customers and retain existing ones through the long term relationship that online banking typically supports. Once a customer goes through the process of setting up their lives to leverage online banking tools, they are far less likely to leave that bank than if they did not do so.
PBN: Does “Always On” mean that security is more difficult to ensure?
POE: Yes, “Always On” means security is even more broad-reaching and challenging. While most people initially think of security in banking as protecting the assets of the bank and its customers from theft, “Always On” raises the stakes even further because the security must also prevent unplanned downtime. This requires a broader vision of the impact a security breach can have on the bank; for example, a security breach could leave the bank’s financial assets quite secure from theft, but if it has halted its business processes and services, it could bring the bank’s operations and its reputation to its knees.
PBN: Does there have to be a case made for “Always On” technology in banking anymore? Are there bankers still out there who need persuading that “Always On” is the way to go?
POE: I don’t believe that a general case has to be made for “Always On.” The propagation of online banking and ATMs as well as the extension of the work day for employees beyond “business hours” has become universally accepted. However, what is not so universally agreed upon, and the business case we will be making at the event, is how much of an investment should be made to address the “Always On Imperative.” It is quite common for organizations to recognize the importance of having redundancy in place for elements of technology that have higher visibility, yet overlook the smaller ones that could indeed impact even the most critical business processes. Additionally, IT must be looked at from the user perspective. It is not enough to simply manage IT systems, infrastructure, or applications without conscious regard for the end-user experience.
PBN: What are some of the cost factors of “Always On” in the banking arena?
POE: Simply put, the costs come down to people, process and technology. To start, each business process needs to be identified with an understanding of the criticality to the business. The business then needs to determine what “Always On” means to them, not from a technology perspective, but from a business impacting user perspective. From there, costs factors can include the technology itself, implementation costs, redundancy levels, staffing, day-to-day care and feeding of the systems, disaster recovery testing, ticket tracking, and proactive monitoring and management of the environment to avert or quickly resolve issues that do arise. For many companies, partnering with an IT solutions provider offers the most cost-effective way of establishing and fully leveraging an “Always On” investment, because much of the specialty engineering and equipment as well as the monitoring needs can be done by the provider while the business’s IT staff can address the organization’s day-to-day needs.
