Financial institutions have begun adopting digital innovation with much greater enthusiasm and excitement. However, working with new and advanced technologies requires support from a team that understands both the financial and technological side of things.
Having the right team can make a major difference for how well a financial institution’s platform operates. Strong production support is essential for the continued success of financial businesses and is oftentimes the deciding factor for whether or not a platform is effective in satisfying both business and customer needs.
Production support matters and understanding what to look for in a production support team is crucial. In this article, we will discuss what financial institutions should be looking for from their production support team’s services, as well as the benefits of utilizing a strong and expert team.
Understanding Production Support
When it comes to the development of software and applications designed for use on financial platforms, simply creating and implementing products is not enough. These kinds of technologies require ongoing support and attention in order to succeed in the long-term.
Production support is essentially this – support from the production team that follows the development and implementation stage in order to ensure software and applications continue to run smoothly.
For financial institutions, this kind of support is essential, as having to maintain and update products without the help of the production and development team can result in faulty maintenance, delayed deliveries, and an overall decline in customer satisfaction.
Cross-Training and Cross-Functionality
A major benefit that comes from working with a team that provides further support following the initial development of software is the heightened ability for cross-functionality within a financial institution’s business structure.
The best production support teams will be experts in working with technologies and developing software, while also being certified financial professionals who know the intricacies and strict requirements associated with regulation and compliance within the financial industry.
Working with a team that is trained to develop and maintain custom software and platform implementations that are designed to fit precise regulatory specifications is, thus, not only essential, but necessary.
Supporting Both Customers and Staff
Without the right support team, financial professionals are faced with the challenge of managing complex technologies and IT infrastructures that are costly and time-consuming. Through utilizing a strong production support team, financial institutions provide themselves with the ability and opportunity to better serve both their customers and their staff.
Consumers have grown much more accepting of digital innovation and in many cases have come to expect it. Because of this, the need for platforms and software that are high-quality with easy-to-use interfaces has become more important than ever. Being able to provide customers with valuable resources and software that is continually updated at a rate that meets customer expectations is one of the greatest advantages of working with an expert production support team.
On the staff side, financial institutions are made up of many departments with many moving parts that require great amounts of attention to detail. Without a strong support team, other departments would have to delegate more of their time to attending to the business’ digital needs, rather than being able to focus on innovation within their own department.
Continuous Delivery Through DevOps
The ability to provide continuous delivery of products, updates, and other software related services is a highly necessary one. There are many components that make up successful platforms, applications, and software. Moreover, platforms and software must be designed for optimal system integrations to meet the individual needs of each financial institution.
Production support teams that utilize DevOps strategies have the expertise to provide continuous delivery of products that are essential for keeping platforms operating smoothly. A focus on continuous delivery also means that issues and problems that arise are dealt with efficiently.
Custom Development and Testing
Having the option for customized developments, builds, and testing is the key to creating a stable platform that acknowledges and comprehends the individual needs of a particular financial institution and its customers.
Production support teams provide the necessary tools and resources needed for these types of customizations. Plus, they can help to identify and analyze how these customizations may need to adapt and evolve over time as market and consumer demands shift.
The Importance of Ongoing Support and Maintenance
Financial platforms and their related software need a high level of agility. This is because scalability is more important than ever, with many financial institutions experiencing much more frequent fluctuations in market and consumer demands as the financial industry shifts further into the digital space.
Thus, having access to a production support team that provides ongoing support and maintenance of software and platform applications is more important than ever. The capabilities provided by a strong production support team can make the difference that ensures not only a business’ survival, but its success as well within the financial industry as it moves towards total digitization.
Accessing the Right Tools and Resources
Besides providing strength through ongoing support, a production support team can also add greater value to a financial institution by providing innovative tools and resources that are designed to be adaptable and flexible in nature.
This access to advanced tools and resources is an invaluable asset that can greatly benefit a financial institution’s digital platform by providing greater value to not only to the business, but to its customers as well.
Final Thoughts
Having confidence in a support team is the key for the continued success of financial institutions following platform implementations. Here at CPQi, we are committed to providing our clients with a production support team that follows through long past the initial development and integration stage.
The CPQi team works closely with the DevOps methodology to ensure software deliveries are speedy and thorough. When working with CPQi’s production support team, financial professionals can rest assured that they are working with financially-certified professionals trained in the complexities of technology and software development.
CPQi offers a plethora of managed services for many of the top platforms, making it easy for financial institutions to find the right platform for their specific needs. The CPQi teams understand the importance of ongoing and continuous support, and work diligently to ensure platforms operate at their fullest potential.
This article was written by Mauro Mambretti, to speak further with him about this, please email info@cpqi.com and we will get back to you.
