Banks

How Is MPLS Helping Banks to Enhance Productivity?

By: sandeepsrivastava
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There are many banks that still run point to point networks which pose the problem of slowing down when the traffic is high. And it effects the productivity of workers that need to serve the customers at a fast pace. It is where MPLS to rescue. But the vendor offering the services need to have the services that span across the region and covers all the branches.

The main advantage of going with MPLS is that it is a data carrying technique which is meant for high performance networks and it makes use of short path labels instead of long network addresses. And not just banks the telecom services providers are also looking for such services.

 

Challenges in Banking

More and more banks are looking to provide personalized and efficient customer services. And they are looking for a strong network to solve this challenge. They are looking for reliable network that are reliable, are fast and deliver the performance.

 

The Solution: MPLS

Most banks have multiple branches that are spread across a state or even the entire country. In all such cases a reliable MPLS network is needed to link all of them together. When new branches have to be added it can be done easily and effectively. High bandwidth is between head offices and branches help in speeding the processing. There are many benefits of having MPLS which involves having the entire network as integrated and secure as possible by taking the advantage of having a routing protocol to MPLS. The network should be capable of handling the real-time applications like video conferencing, VoIP and core applications.

 

Choosing the Right Provider

When you are going to choose a provider make sure that it provides offering like:

1- Integrated and flexible network architecture for fast and dependable data, voice and video applications.

2- The solutions should offer low latency and 100 percent availability and connectivity to run the main business applications.

3- The provider should offer optimizing of WAN networks and should have experience in building multi-location and VPN based WAN at lower costs.

4- As wireless networks will be needed by the bank and its employees to access the applications from just anywhere. To this end the provider should be able to tackle this growing need.

5- The provider should also offer the complete transformation of network from legacy system to high performance one that offers all the latest features.

6- The provider should also be able to offer compliance at every step to make the network completely secure.

 

What else may be required?

If there is need to deploy and support the Wi-Fi network which includes inspection of site, network installation and round the clock monitoring and support. Want to add a news branch then the provider should be able to quickly extend the existing network. Furthermore, the network should be capable of restricting usage to authorized persons only and unauthorized persons should be able to use the services. Additional layer of security in the form of centralized monitoring and access control for the application and user privileges should be there.

 

Moving towards Unified Communication as a Service

It unifies the various real time communication channels and integrates them with enterprise IT business application and processes across multiple devices. The various that you will get are as under:

 

Audio Conferencing

With it you can conduct virtual meetings with your counter parts across the globe and provides a significant boost to the productivity. You can hold scheduled as well as impromptu meetings anytime and anywhere. It allows you to reduce the travel costs significantly and the need for out-of-office meetings can be done away with. You will be able to conduct the meetings virtually and improve the collaboration and the productivity can be enhanced significantly.

 

Unified Communication

You can get real time access to the services such as the phone communications, messaging, sharing of data and also conferencing of devices. The use can them freely without having to worry about the intricacies of implementation. When you have an all in one platform that has audio, video and web then your teams will be able to conduct the meetings as efficiently as possible. No matter you are collaborating online or making use of audio to meet, the unified communication can significantly improve the experience with powerful productivity tools which are available to you at the click.

Many banks as well as telecom companies in India are moving towards these services and they are able to expand rather easily whenever they want. And their employees are able to better co-ordinate which leads to better productivity.

 

In Conclusion

MPLS enhances the speed of the network and prioritizes which applications based on their data needs thus improving the productivity manifold. It also forms the base for unified communication as a service.

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