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SD-WAN: Foundation for Digital Innovation in Banking

SD-WAN: Foundation for Digital Innovation in Banking

At this time, banks not only face competitive challenges from fellow traditional banking institutions but also non-conventional players. This competitive pressure, coupled with ever-increasing customer expectations, requires banks to continue to improve their services by launching various digital innovations.

In the world, mobile banking, or banking activities via mobile phones, is one of the biggest innovations. Most customers have transacted via digital. Electronic Know Your Customer (E-KYC) is another digital innovation that is also important, especially to get new customers. E-KYC has been suggested by the World Bank as an innovation to increase the number of citizens served by banking institutions.

The term branchless banking (banking services without branch offices) can include mobile banking. However, in various countries, branchless banking usually refers to the Financial Authority program in each country.

It can be seen that all the latest digital banking innovations depend on Internet connectivity and networks. Therefore, banking institutions must ensure that digital innovation is supported by a company network infrastructure with high quality and performance.

Ensuring Network Quality

The mobile banking application allows customers to make transactions anytime and anywhere. However, this also requires a bank network that is readily available to customers at all times, 24 hours a day, and 7 days a week, with prime quality. The adoption of SD-WAN solutions technology will be able to help banking institutions obtain reliable infrastructure to support their various digital innovations.

Network Security

Apart from network performance, the security aspect is one that should not be overlooked when building digital innovation in banking.

The implementation of SD-WAN technology can also help banks to manage network security better. In terms of data security, data connections that use the SD-WAN network are encrypted. With the ability to provide stable, fast, and easily managed connections at affordable costs, SD-WAN is a foundation for banking institutions that want to adopt digital innovation without difficulty. Implementation of SD-WAN in banking institutions will be even faster when considering SD-WAN providers Teldat, which has been trusted in various countries.