Jamieson Lee Hill, 22nd March, 2024

In this blog we address key issues facing the Fintech industry regarding IT and digital. We explore the limitations of housing IT infrastructure on-site and showcase how IP House's 24/7 monitoring can ensure continuous operation for fintech companies. We also highlight cybersecurity attacks on Fintech and show how IP House can counter these more effectively than on-site facilities. 

Reassessing IT Infrastructure

In the fast-paced world of Fintech, it's becoming increasingly important for companies to periodically reassess their IT infrastructure. The traditional approach of housing all IT systems on-premises is often no longer the most cost-effective or practical approach to expansion. As companies grow and evolve, they require an adaptable IT infrastructure that can quickly adjust. Also, Fintech companies need bespoke design solutions that meet the escalating demands of IT and guarantee continuous operations.

IP House: Continuous Operation with 24/7 Monitoring

Continuous operation is the backbone of any Fintech company. As well as having a robust infrastructure, IP House also monitors 24/7 to prevent any potential issues. Also, IP House’s high availability services provide uninterrupted access to on-premise IT anytime. Our dedicated technical teams work around the clock to make sure that your fintech operations do not face interruptions to your services that would affect your clients, your own systems and your brand reputation. 

Risks of On-site Data Systems

On-site IT systems for the Fintech sector can carry inherent risks including natural disasters, power outages, and the ever growing number of cyberattacks. Critical incidents can lead to significant system downtime, resulting in lost business opportunities, customer attrition, reputational damage, and potentially substantial fines.

As Cybersecurity expert Faysal Ghauri remarks, the massive growth in Fintech has led to increasing numbers of cybersecurity issues,

“...rapid growth brings forth complex cybersecurity challenges. As fintech firms innovate, they also grapple with heightened risks of cyber threats.”

Source: Linkedin, Faysal Ghauri, Dec 2023

Countering Cybersecurity Attacks with IP House

The fintech industry is a prime target for cyberattacks due to the nature of its operations handling large amounts of money and data. Protecting sensitive financial data is vital. IP House Colocation Data Centre understands this essential need for robust security. Therefore, we have built a resilient infrastructure that can counter these threats and provide peace of mind for both Fintech companies and their clientele. 

Benefits for Fintech Firms Outsourcing to IP House

IP House offers the critical infrastructure, security, and round-the-clock support services necessary for keeping FinTech firms' services continuously available. This allows Fintech companies to focus on their core business, secure in the knowledge that their IT systems are being managed by experts in a modern, secure environment.

Backed by service level agreements, IP House can offer Fintech companies peace of mind and free up resources, allowing firms to focus on innovation and growth. Outsourcing IT infrastructure to IP House colocation data centre represents a strategic move towards efficiency, security, and scalability for Fintech companies. Our existing clients give testimony to the efficiency and quality of our services.

Reflections

Building a resilient infrastructure for fintech innovation is no small feat. It requires a niche understanding of the industry's needs, a robust technical infrastructure, and the ability to respond quickly to threats and challenges. With its commitment to continuous operations and cybersecurity for Fintech, IP House is well-positioned to help firms in the sector thrive and continue to grow for years to come. 

Let's Talk about how IP House London can support your Fintech services. Fill out the form below!

Sources:

1. IP House Blog HOW COLOCATION DATA CENTRES SUPPORT FINTECH STARTUPS
2. Google Reviews for IP House
3. Intelligent Fin.tech Feb 2024 Building a world class FinTech hub in Wales 
4. Linkedin article Dec 2023 Embracing new wave fintech trends cybersecurity 2023