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Compliance

Financial institutions continue to face an increasing number of complex regulatory mandates related to Information Technology (IT) compliance. Preparing for IT audits, performing risk assessments, and assuring compliance with FFIEC, FDIC, OCC and OTS takes up increasingly more IT time and resources. The importance of the regulatory audits has increased due to the inclusion of Customer Privacy requirements into the IT arena. Failure to comply with recent IT mandates has negatively impacted many Financial Institutions and affected the way they conduct business. As a result, managing secure network environments and multiple external partners has become a daunting task.

In response to this challenge, it is recommended that community banks minimize exposure to multiple points of public networks and vendors to assure network security. Banks are also establishing data circuit redundancy throughout their branch network environment. And finally, more and more bank IT organizations are employing managed services partners with network compliance experience to manage their increasingly complex WAN networks.

BITS managed network services allow community banks to achieve the above mentioned goals by limiting the number of vendors associated with critical network management, telephone systems, data transport, and Internet security. In other words, BITS can drastically reduce a bank's exposure to external threats and multiple vendors.

BITS simplifies compliance by centralizing firewalls and IDS systems, enhancing network security, replacing legacy WAN communications (Frame Relay, Point to Point, or other types of broadband connections), removing unnecessary network components, and eliminating antiquated stand alone phone systems. Our next generation network is specifically engineered to not compromise network redundancy, performance, or security.

In addition, BITS simplifies IT audit preparations by providing our customers with security and audit certifications, network diagrams, and product descriptions that decrease internal work efforts required for proper vendor management practices.