virtual desktops presents a bad experience for finance professionals

Virtual Desktops: They don’t have to be a cringeworthy experience

It’s a “cringe on the face.”

That’s how Morley Ivers, OS33 President, describes the scenario that he frequently encounters as he talks with individuals who work in the financial services industry.

He’ll be in a meeting with a client or prospect, and the topic of virtual desktops will come up. 

And from there, the mention of a trade-off arises. There is an understanding that users need to work in a secure space so that confidential, private data is protected. 

But then there is the discussion about the virtual desktop user experience, and this is where Ivers see “the cringe.” Workers know all too well that the remote application and desktop model have buckled under the demands of the remote work environment, and will continue to cause issues as many firms transition to a hybrid model.

In this short video clip, Ivers talks about the limitations of virtual desktops. While they have their place, we hear time and time again from Registered Investment Advisors (RIAs) and financial advisors that virtual desktops do not drive productivity, nor do they provide a favorable user experience.

The issues related to sluggish performance and hampered productivity are just the tip of the iceberg. If we look deeper, we uncover more issues related to virtual desktops. 

Meeting solutions can lead to exposed risk.

As many virtual desktop users know, trying to use meeting solutions (Zoom, Webex, Microsoft Teams, etc.) through a hosted desktop is painful. The real-time video and audio required for an acceptable experience is extremely difficult to provide through virtual desktops. And the solution that many IT departments convey? They tell their users to bypass the virtual desktop and run these solutions locally on their devices. 

The consequences of this mindset for regulated and security-minded firms are an enormous problem, since advisors often share confidential client data over these video conferences. This clearly puts sensitive client data at risk.

Mobile devices are exceedingly handy – but also open risk.

Financial professionals are doing exceedingly well at “working on any device” to ensure clients get the care and attention they need. Advisors have adapted well to utilizing any phone or mobile device to keep business going. These workers tap into mobile devices, in part, as a workaround virtual desktop solutions, which provide a suboptimal mobile experience.

The problem here – you guessed it – is that security is basically thrown out the window.

And keep in mind a “pass” on regulation will no longer be a thing.

While the creative “workarounds” that financial professionals have used over the past year+ have not been the top priority of regulators, those days are coming to an end. Companies in the financial space must understand that the regulatory “passes” experienced during the pandemic are going by the wayside. Leaders must recognize they will be held accountable and responsible for employees not doing all they can to protect sensitive data. 

Instead, we now see increased discussion from regulators – and industry leaders – about the need for companies to proactively find technologies, products, and services that will help prevent cybercrime and keep data safe and secure. 

There is no choice but to find a technology and solution that drives the productivity of financial professionals, yet fully protects client and company data.

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