BFSI Enterprise Mobility – Challenges and Key Solutions
1. Technological Challenges: These are the challenges in addressing and bringing together diverse mobile platforms, networks, devices, and operating systems. BFSI data is one of the most sensitive and vulnerable of most types of enterprise data. Encryption, scalability and security factors need to be addressed effectively.
2. Business Challenges: These are the political, regulatory and economic factors that can affect the BFSI enterprise operation across multiple levels. With these issues there is no one solution that fits all. Each of these factors need detailed analysis and redress. Included in this are business issues related to competitors, stakeholders and customer acceptance.
Key Solutions:
1. Inclusion of heterogeneous Infrastructure: Heterogeneity in mobile devices is here to stay. This needs to be accepted by BFSI organizations at the initial levels. Inclusion of diverse technologies and devices must be used as strength and this strength must be leveraged effectively. This has long term benefits in terms of cost saving, usability and accessibility as well as gives the freedom to the stake holders to choose their devices. BFSI mobility infrastructure should be designed to effectively include these diverse systems, technologies and mobile operating systems such as Symbian, Palm, BlackBerry, iOS, Android, Windows Mobile and other Linux variants.
2. Bring Your Own Device (BYOD): The stakeholders especially the employees prefer to carry their choice of devices. By allowing the employees to choose their devices and facilitating the use of such devices for enterprise operations can be hugely beneficial to the BFSI organization in the long run. A single, unified and simplified gadget for BFSI enterprise work and communication (official and personal) makes better business sense. This solution is not only cost-effective but also reduces training needs for new devices and instantly improves productivity since the individual is familiar with the device.
3. Extensible Architecture: As a first step, BFSI enterprises should make sure of the existing infrastructure for incorporating mobility solutions and any extension to the existing infrastructure should be designed to be further extensible. Such architecture allows smooth scalability and flexibility for inclusion of more and improved functionalities in a phased manner.
4. Cloud Connection: BFSI enterprises must incorporate cloud computing in mobility solutions design and leverage this miracle system in improving responsiveness and productivity. Cloud computing solutions can be a gain to BFSI organizations which experience simultaneous access, control and updates to their records.
5. Enterprise Mobility Management (EMM) and Mobile Device Management (MDM): These are the two key terms without which BFSI mobility is incomplete. While EMM is a unified management system that manages all the enterprise related devices and accessories according to set mobility protocols, MDM help enterprises to centralize operations of multiple smart devices effortlessly, transparently and seamlessly.
BFSI Enterprise mobility solutions are not devoid of challenges. The benefits far outweigh the challenges. These challenges can be addressed effectively with the adaption of easy, cost-effective, state of the art technological solutions.