Financial IT services span all services targeting the IT infrastructure of financial service businesses, which may be provided by an external partner:
- System maintenance and support
- Legacy system modernization
- New application integration
- System updates and improvements
- Issue resolution
- IT project and strategy consulting
The supported infrastructure in banking and capital markets can include core banking applications, treasury and real-time liquidity management platforms, regulatory automation systems and more.
While similar to IT services for other industries, financial IT services come with particular challenges. The banking and capital markets industry is heavily regulated, so compliance must sit at the core. Financial service businesses must also follow an enhanced data security strategy.