IP networking in Canadian financial services

Canadian banks, insurance companies and other financial services industry firms are more reliant on network services than ever before. The rise of online banking, mobile banking and algorithmic trading are all contributing to a need for increased transaction speeds, dynamic allocation of data centre resources and the highest levels of availability and uptime.

In Canada, financial services industry firms are also contending with highly specific regulatory compliance issues as well as the adoption of international standards such as Basel III, Volcker Rule and others. Meanwhile, the growth of Canadian banks is driven both organically as well as mergers and acquisitions. Industry consolidation means financial services IT departments must work through the complex integration of disparate applications, networks and data centres.

The adoption of advanced IP networking products and services are helping Canadian companies in the financial services sector to innovate, transform and address these challenges.

The strategic use of unified communications is allowing Canadian financial institutions to respond to customer and employee needs by enhancing collaboration through a combination of voice calls, e-mail messages and videoconferencing. The rise of cloud computing models means financial services firms can also deploy unified communications as a service (UCaaS), lowering their capital expenditure (CapEx) costs and moving some of their IT requirements to an operating expenditure (OpEx) cost that allows for greater flexibility in budgeting and planning. Layered on top of all these investments is a need for the highest levels of data security, reliability and performance that only a national player with experience in next-generation technology and networks can provide. 

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