Due to digital transformation, it is vital for the financial industry to be always up and always on so customers can access their money anytime, anywhere. You may think that a loss of a couple hours is minimal in the grand scheme of things, however unexpected downtime can be extremely costly in more ways than one and can affect multiple branch locations if there is not a process in place. How does the banking sector suffer from downtime?

 

Customer Experience

Banks and Credit Unions offer similar products, with little differentiation to let them stand out. This is why customer relationship in the financial industry are built on unforgettable experiences and trust. When customers and staff cannot access applications, it creates distrust. When trust erodes, customers leave, resulting in your organization to suffer.

 

Brand and Reputation

Your organization works hard to a build a reputable brand within your market to help set you a part from competitors. Brand reputation is another factor playing into the high cost of downtime in the financial industry. Being a victim or downtime is a PR nightmare for organization and can cause severe damage to a brand, resulting in a loss of customer base.

 

Productivity and Revenue Loss

Time is money in the financial industry. When an organization is faced with downtime, it results in loss of revenue and opportunities. Imagine your network goes down and the impact it would have on the workplace. Emails go to a halt and production stops. The aftermath of downtime can be detrimental. As we continue to become a 24/7 economy, the value of being “up” will only increase.

Never Suffer from Downtime with LightEdge on Your Side

Never be a victim of downtime again with LightEdge on your side. Our network is superior in comparison to any competitor. With LightEdge, you receive unparalleled scale, redundancy, and speed. We guarantee 100% uptime so your customers can receive the unforgettable customer experience they deserve and your organization can pull a part from the rest of the pack. Chat with one of our experts if you are ready to learn about what our network can do for your organization, our team is standing by.

Shawn Rielly

Shawn specializes in creating written and visual content for end users. Using her marketing background, Shawn focuses on delivering attention grabbing content for LightEdge’s audience that is usually based on LightEdge blogs. One of the many skills she has is using the application of Adobe Creative Cloud.

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