Many financial institutions are leveraging the benefits of outsourced information technology (IT) services, including the cloud. The advantages include lower costs than managing IT in-house, improved efficiency and capabilities, access to enterprise-level security, experts managing your IT systems, stronger disaster recovery and built-in redundancy, and more time to focus on your customers. So now the question is, which type of vendor offers the best fit for your institution—a local provider or a financial industry-focused managed services provider (MSP)?

1. BANK-FOCUSED
MANAGED
SERVICE
PROVIDER
VS. LOCAL IT
WHICH ONE IS RIGHT FOR YOU?
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2. PROXIMITY
LOCAL IT:
• Closer when you need a
technician on-site
BANK-FOCUSED MSP:
• Can remotely start solving the
problem while a local IT provider
is driving there
• Also offer on-site visits when needed
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3. STAFFING &
AVAILABILITY
LOCAL IT:
• May be stretched thin during
peak times and after hours
BANK-FOCUSED MSP:
• Provide 24x7 security, systems
and access to a wide variety of
technical experts
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4. INDUSTRY FOCUS
LOCAL IT:
• Generalist view of IT
o Consider how they’ll satisfy
examiners
BANK-FOCUSED MSP:
• Specialized solutions for FIs
o Often audited by FFIEC-based
exams in addition to other
third-party audits
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5. COST
LOCAL IT:
• Often have a lower up-front cost
BANK-FOCUSED MSP:
• Often provide more bang for your
buck and cost savings over time
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6. SO WHICH DID
YOU CHOOSE?
FOR MORE INFORMATION
Visit CSIWEB.COM or contact us at
MANAGEDSERVICES@CSIWEB.COM
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