Why the banking and financial industry (BFSI) should choose cloud-based IT tools

Woman working on a laptop from home underscoring the need for cybersecurity in BFSI industry


#GoToGetsIT: This article is part of an ongoing series from GoTo’s thought leaders on the frontlines: Our Solutions Consultants deeply understand our customers’ unique challenges and connect the right solutions to meet their goals using GoTo technology. Here, they share their industry knowledge on what it takes to help businesses everywhere thrive in a remote or hybrid world.

It is understandable that banking and financial industry (BFSI) organizations may have concerns about using a cloud-based remote support tool, as it involves trusting a third-party provider with access to sensitive information and systems. Cybersecurity in the BFSI industry was not a big concern prior to the COVID pandemic as most users were working from a centralized office and the support desk was involved in making sure their IT software was all connected on-premises. But it is now – especially with employees working from different corners of the world, it’s important you use a cloud-based tool.

Top concerns with the cloud-based IT support software

When considering any type of IT solution, there are often concerns around security and privacy. Here are some of the top concerns for the BFSI organizations and what you should look for from a cloud-based IT support software:

Data security

Sensitive data should be protected from being accessed by unauthorized parties. This includes both data transmitted through the tool and data stored in the cloud.

Data privacy

The provider of the tool should not have access to sensitive data, such as user information or business data. Data privacy must be protected from misuse or disclosure, even from the provider.


Relying on a third-party provider for access to the tool and for the storage of your data means you should be able to rely on the availability and reliability of the tool.


When you have strict security or compliance requirements, you want to be able to maintain control over your data and permissions. A cloud-based tool shouldn’t require you to relinquish control.

Zero trust takes a never trust, always verify approach

The bottom line in all of these concerns is around trusting data to be managed by another entity, which is why GoTo Resolve introduced its zero trust architecture.

Zero trust is a security model that assumes that any user, device, or network inside or outside of an organization's perimeter can potentially be compromised, and therefore must be verified before being granted access to resources. In a zero-trust model, access to resources is granted on a per-request basis, rather than based on the location or identity of the user or device. Zero trust architecture aims to reduce the risk of a data breach by verifying the identity and trustworthiness of users before allowing access to sensitive data and systems. This is accomplished through the verification of a signature key before any activity on the end user machine.

Beyond zero trust: What to look for in a secure cloud-based remote support solution

Over and above the zero trust architecture, GoTo Resolve comes with several security measures to ensure the security and privacy of users, including:

1. Encryption

GoTo Resolve uses a strong AES 256-bit encryption to protect data transmitted between the support staff and the end user's device. This helps to prevent unauthorized access to the data.

2. Access controls

GoTo Resolve offers multiple layers of access controls in place to ensure that only authorized users can access the system. This includes measures such as password protection and two-factor authentication and the signature key for access

3. Compliance

Being one of the top cloud-based remote support providers, GoTo is compliant with various industry standards and regulations related to data security and privacy, such as SOC2 Type 2, SOC3, GDPR, etc. This helps to ensure that the tool is meeting industry best practices for protecting sensitive information.

4. Proactive support tools

GoTo Resolve is built with server monitoring software and alerting software. This helps you take a proactive approach to finding any compromises in your infrastructure through remote server monitoring and systems monitoring, while alerting tools bring your immediate attention to anything you have flagged to watch out for.

BFSIs can make cloud their go-to

It is understandable to have concerns about using cloud-based tools, particularly when it comes to sensitive data. It is important for organizations to carefully evaluate the security and compliance risks of using cloud-based tools, and to implement appropriate controls to ensure the protection of sensitive data.

GoTo Resolve has extensive security measures in place to protect data, including physical security, network security, and data encryption. The use of cloud-based tools can provide several benefits to the financial industry including:

Improved collaboration

GoTo Resolve facilitates collaboration among team members and enable real-time communication to help increase First Call Resolution (FCR).

Enhanced security

GoTo Resolve’s zero trust architecture ensures to protect against unauthorized access to sensitive data or even unauthorized access to your machines.

Increased scalability

Cloud-based tools can be easily scaled up or down to meet changing needs, making them a flexible solution for banks.

Reduced IT costs

Cloud-based tools can reduce the need for on-premises infrastructure, which can lower hardware and maintenance costs.

In summary, while there are always risks associated with the use of any technology, cloud-based tools can be a secure and reliable solution when implemented and managed properly.

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