Top Questions When Picking an MSP for Your Financial Services Firm
Whether switching managed service providers (MSP) or looking to start a new partnership, asking the right questions is critical to success.
So, how do you know which MSP is the right one for your financial services firm? Following are five attributes to look for when vetting a financial services MSP:
Depth and Quality of Staff
Strong Communication Skill
A Proven Strategy
Experience in Cloud Deployment
Deep Security Knowledge
Another critical factor in selecting your Financial Services MSP lies in the answers to the questions below.
- Does the MSP's service allow for easy scalability and the quick addition of resources and new technology solutions to support your financial firm? What is the ability to remove these resources when they are no longer being used?
- Does the MSP offer disaster recovery services as part of their offering? If so, how often are those DR systems tested?
- Which technology vendors does the MSP have partnerships with? What certification levels does the financial services MSP have with these technology partners?
- Does the MSP have the appropriate SOC certifications? Do they undergo regular risk assessments and security audits?
- What type of security and monitoring practices do they follow? What is the size and experience of the security team? Do they have a dedicated SOC team? Have they experienced any breaches?
- If selecting public cloud services, is the financial services MSP a Tier 1 Microsoft CSP? Do they take a security first approach to cloud solutions?
- If selecting private cloud services, is the cloud infrastructure backed by a Service Level Agreement (SLA) that ensures top performance and uptime? What SLAs does the MSP offer?
Once you have asked the MSP these questions, be sure to then evaluate and find the best fit for your financial services firm.