Bank-Focused Managed Service Provider vs Local IT
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![Page 1: Bank-Focused Managed Service Provider vs Local IT](https://reader033.fdocuments.net/reader033/viewer/2022052621/55844c36d8b42af85e8b4b35/html5/thumbnails/1.jpg)
BANK-FOCUSED MANAGED SERVICE PROVIDER VS. LOCAL IT WHICH ONE IS RIGHT FOR YOU?
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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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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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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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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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