The future of banks and financial institutions depends on always-on, reliable connectivity that is available anywhere and anytime to meet the client’s needs, ensure customer satisfaction and optimize the operational cost. Satellite services are often an essential element in the connectivity technologies mix. Any type of network infrastructure needs to assure full security and integrity of data and transactions, meeting corporate requirements and financial industry best practices, such as the Payment Card Industry Data Security Standards (PCI-DSS).
Primary or back-up satellite connectivity using Newtec’s VSAT technology easily blends into the existing IT networks and the applicable connectivity mix. Newtec technology brings maximal virtual private networking flexibility, enabling Layer 3 routing, Layer 2 networking and Multiprotocol Label Switching (MPSL) over the satellite links, combined with sophisticated Quality of Service management for data, voice and ATM/Point of Sale transactions.
In emerging markets smartphones are the tool to reach the unbanked. Mobile payments and banking apps are expected to increase penetration of banking services to the people, thus industry is stepping away from the traditional model of investments in ATM infrastructure and focusing more on providing connectivity to these areas. People in rural areas can use both cellular networks – backhauled over satellite – and Wi-Fi Hotspot services to achieve this connectivity. These Wi-Fi Hotspot access points can be located at schools, community and health centers, or combined with a Point of Sales or a local office.