Jonathan is an international tourist. He loves to travel, he loves to experience the exotic and he loves to spend money while he does it. And like many tourists, he sometimes finds he has depleted his cash. While this might not be a problem in most parts of the United States, many countries still operate largely on a cash basis. So Jonathan does what anyone else might do to get cash – he finds an ATM. Here’s the problem he encountered on his latest trip. The ATM was down. And so were the next three he found.
When you think of satellite solutions, generally you might think of highly mobile industries. Satellite solutions are frequently used in industries where workers are always on the go, like emergency first responders, members of the media, utility crews, gas and oil workers, miners and many more. But believe it or not, satellite applications are also helpful in more stationary businesses, like banks.
The banking industry presents its own set of challenges, like the need for constant, flawless connectivity, high-security and adaptability as the bank adds branches and ATMs Satellite technology can address all of these needs and more. Satellite can also enable areas of the world without terrestrial infrastructure to have the same access to banking that the rest of the world currently enjoys. Read on to see why satellite solutions for banking make perfect sense.
· Reliability – Satellite solutions can provide unsurpassed network reliability – 99 percent – that terrestrial networks just can’t beat. Terrestrial networks are vulnerable to natural and man-made disasters, geopolitical instability and limited reach. Satellite can provide reliable service that remains uncompromised by any of those factors. In today’s world of 24/7 banking, satellite can provide the connectivity that banks and customers need. In the event of a power outage, banks may even switch to power generators and continue to do business as usual.
· Streamlining – Satellite banking operations rely on a single operator, which gives them more control over their parameters. This dedicated operator can create a network that meets the exact needs of each financial institution and reduces the amount of people the bank needs to go through to resolve any issues. There is a single point of contact for development of the network, troubleshooting, training and maintenance. Satellite can provide managed services, with full monitoring and management of all terminals from multiple networks in a single platform.
· Extended reach – Satellite options give more customers in remote and rural areas access to the banking they need. Oftentimes these areas are not well connected with the terrestrial infrastructure the bank needs to provide services. This is where satellite can reach beyond terrestrial networks to provide people access to ATMs, point of sale networks and remote branch connectivity. This is equally important to banks as it is to customers, as it gives the banks a presence in emerging markets and access to new customers. Banks can give customers a wide range of quality services, which can lead to more revenue and customer loyalty.
· Top notch security – Transmitting sensitive data via satellite is more secure than through terrestrial transmission. Satellite IP data is independent of other local telecom operators.
· A leg up on the competition – Adopting satellite services now can give banks an edge over their competition, who may still be relying on terrestrial solutions. Satellite can be used for either primary or back-up services between corporate data centers and remote banking options. Increasing customer satisfaction through better connectivity and building a larger customer base will allow banks to win over customers from their competitors and build loyalty to their brands.
As you can see, satellite services and banking go hand in hand, and in ways you might not have considered before. The technology is out there to give customers what they need whenever they need it. If you’re in the banking industry or you’re a customer like Jonathan, be sure your bank has what it takes to provide safe, consistent service.
Headquartered in New York City, New York Mobile Satellite provides B2B wireless and satellite based telecommunication services, both mobile and fixed, to commercial enterprises around the globe, including banking, financial services, oil and gas, first responders, law enforcement, electric and water utilities, construction, sea ports, leisure boating, mining, cruise lines, media, shipping and container vessels, transportation, camping and hiking groups, rescue organizations, maritime communications, public safety markets and government sector, as well as for disaster recovery and humanitarian agencies. The Management Team has over 75 years of satellite and telecommunication experience. The company’s flexibility to custom design solutions and integrate various satellite communications technologies for customer and industry specific needs sets us apart from the competition. New York Mobile Satellite LLC is certified as a Veteran Owned business by the Veterans Administration.