7 Use Cases of IT Management Platforms for Banking, Financial Services & Insurance (BFSI)

The BFSI sector is one of the biggest IT spenders in the world, with projected investments hitting a massive $44.9 trillion by 2028. From AI-powered personalization to cloud-first infrastructures and omnichannel banking, tech is at the heart of everything. 

But with this reliance comes the complexity of managing thousands of devices, software licenses, and global operations, which isn’t easy. That’s where IT management platforms come in, helping financial institutions stay secure, compliant, and efficient. 

In this blog, we’ll explore seven key use cases where IT management platforms simplify the chaos and drive smarter operations across the banking, financial services, and insurance ecosystem. 

Let’s dive right in! 

The Status Quo of IT in Banking, Financial Services & Insurance 

Like every industry, BFSI has also evolved in the past few years. Mobile apps now work as digital branches, which has created the scope for institutions to go remote and hire best of the employees from across the border too. Here’s what the current situation looks like: 

1. Spiraling IT Costs and Budget Imbalance 

IT costs in BFSI are rising at a rate of 5% to 8.5% annually, driven by increasing cybersecurity needs, AI adoption, and infrastructure upgrades. Yet, a staggering 70% of IT budgets are tied up in just maintaining existing systems (run-the-bank), leaving little room for innovation or modernization. This imbalance restricts institutions from investing in game-changing initiatives like automation, advanced analytics, or personalization. 

2. Efficiency Gaps Despite High Investment 

Despite spending billions, many BFSI organizations still struggle with fragmented systems and inefficiencies. Studies show that adopting managed IT services can improve efficiency by up to 60% while slashing internal IT costs by as much as 40%. Yet, many banks are still grappling with outdated legacy architecture, too many overlapping platforms, and inconsistent processes across departments. 

3. Procurement is Getting Complex and Costly 

IT procurement in BFSI is bogged down by dependency on long-term suppliers and convoluted approval processes. The lack of centralized procurement leads to data inconsistencies, duplicate purchases, and unclear visibility into actual IT spend. This is made worse by regulatory pressure, data security concerns, and complex vendor compliance requirements. 

4. Asset Management Under Pressure 

The IT Asset Management (ITAM) market is booming, expected to reach $3.5 billion by 2031, and for good reason. Banks and insurers are under pressure to manage sprawling IT inventories, from laptops to data centers, while ensuring security, compliance, and cost efficiency. With demands for hybrid data centers, faster processing, and stricter regulations, effective asset management is no longer optional. 

Why This Matters

The BFSI sector is clearly at a crossroads. Quick digital changes are colliding with rising costs and operational complexity. The need for smarter, streamlined IT management has never been greater, and that’s where IT management platforms like ZenAdmin come in. 

Use Cases of an IT Management Platform in BFSI  

Managing IT in the BFSI sector isn’t just about hardware and software. It’s as much about dealing with complex regulations, fragmented systems, and massive scale. Here’s how IT management platforms are solving real problems across banking, financial services, and insurance enterprises. 

1. Multi-Jurisdictional IT Procurement and Vendor Management

A global financial institution operating across 15+ countries faces a tangled web of procurement rules, local sourcing mandates, and vendor compliance requirements. Procurement workflows vary by region, leading to inconsistent vendor assessments and challenges with global cost optimization. 

An IT management platform like ZenAdmin streamlines these complexities by offering:

• Centralized vendor database with jurisdiction-specific compliance tracking
• Automated procurement workflows that factor in local regulatory nuances
• Multi-currency budget management for accurate cross-border cost allocation
• Vendor performance dashboards providing real-time insights across all geographies
• Contract lifecycle management with renewal alerts and compliance automation 

This ensures a single source of truth across markets while empowering local teams to stay compliant and efficient. 

2. Cross-Border IT Asset Leasing and Lifecycle Management 

BFSI firms often manage leased IT assets across countries with differing tax codes, depreciation rules, and compliance mandates. From laptops to servers, tracking lease status and ensuring timely, compliant handovers can be a nightmare, especially with evolving regulations like IFRS 16 and ASC 842. 

With IT asset management platforms like ZenAdmin, BFSI firms can: 

• Automate lease accounting across multiple global standards
• Track asset location, custody, and usage in real-time
• Run lease vs. buy analysis with regional tax optimization
• Automate end-of-lease data destruction and compliance documentation
• Enable multi-entity reporting—both consolidated and region-specific 

With ZenAdmin, IT equipment leasing for BFSI is as simple as mentioning what you need and which employee do you it to be delivered to. 

This results in lower admin overhead, zero compliance lapses, and smarter asset investment decisions, all while simplifying audits and financial reporting. 

3. Cross-Border Device Lifecycle Management (DLM) and Compliance 

A global investment bank managing over 50,000 devices (including laptops, smartphones, and trading terminals) across 25 countries faces intense logistical and regulatory challenges. Each region comes with its own set of rules for data protection, import/export documentation, environmental disposal, and security configurations. 

Managing IT procurement, deployment, and end-of-life disposal across jurisdictions often leads to compliance risks, delays, and inefficient resource use. 

An IT management platform like ZenAdmin helps unify and automate this process through:

• Automated provisioning with security baselines tailored to local regulations
• Cross-border tracking of devices with built-in customs documentation workflows
• Region-specific maintenance schedules coordinated with local vendors
• Compliance-aware device refresh cycles, aligned with regulatory standards
• Secure disposal protocols with audit-ready certificates of data destruction
• MDM policies that adapt to regional governance while ensuring global consistency 

With ZenAdmin, devices are deployed faster, managed securely, and retired responsibly, without any IT compliance headaches. It also improves operational efficiency, reduces deployment bottlenecks, and strengthens the organization’s overall security posture. 

4. Multi-Regional Security and Compliance Management

For a multinational financial services firm, security isn’t just about firewalls and encryption—it’s about meeting a web of regional regulations like SOX, PCI DSS, GDPR, Basel III, and others. Each region adds a layer of complexity, making it hard to maintain a consistent security posture across borders.

Challenges include coordinating security responses across time zones, managing privileged access for global teams, and preparing audit reports for multiple regulatory bodies.

An IT management platform simplifies this landscape by enabling:

• Centralized policy management with regulatory overlays by country or region
• Identity and access controls that can be delegated to local admins with global oversight
• 24/7 threat monitoring, incident alerts, and structured escalation across regions
• Automated compliance reporting, aligned to various regulatory frameworks
• Integrated incident response tools, streamlining coordination between global teams 

ZenAdmin, for instance, empowers security teams with unified visibility while offering the flexibility to meet localized requirements. It also logs the entire trail of actions for audit, as you can see above. This reduces compliance effort, accelerates incident handling, and improves readiness for audits and regulatory reviews. 

5. Global SaaS Management and Shadow IT Governance

As BFSI firms use digital tools, the number of SaaS applications used across departments and regions has exploded. Without centralized control, this leads to shadow IT, licensing waste, and non-compliance with data regulations like GDPR or local financial data residency laws. 

A global banking group with operations across continents often faces redundant app purchases, decentralized vendor risk assessments, and unclear data processing flows between systems. 

An IT management platform tackles these issues with features like:

• SaaS discovery and inventory, providing full visibility across entities
• Automated vendor risk checks tailored to jurisdiction-specific rules
• Usage analytics and license pooling, optimizing spend and reducing duplicate contracts
• Data processing agreement (DPA) workflows, with compliant templates per country
• Shadow IT governance via detection, alerts, and remediation workflows 

By bringing structure to SaaS adoption, the best IT management platforms like ZenAdmin help financial institutions reduce costs, stay compliant, and maintain control over data, no matter where it lives. The result is a more secure, streamlined, and financially efficient digital ecosystem. 

6. Cross-Border IT Service Management and ITSM Integration 

For global BFSI organizations, delivering seamless IT support across regions is both a necessity and a challenge. A multinational insurance firm, for example, must serve employees and partners spread across time zones, languages, and regulatory environments. Inconsistent service desk operations, poor handoffs between regions, and lack of language support often lead to delays and frustration.

An IT management platform brings structure and consistency through:

• A unified service catalog with region-specific offerings and pricing
• Multi-language support with real-time translation capabilities
• A follow-the-sun support model ensuring 24/7 service delivery
• Integrated knowledge management combining global best practices and local context
• Cross-region resource sharing that locates the right expertise, wherever it resides 

ZenAdmin takes this a step further by automating most L1 and L2 IT helpdesk requests, from password resets to provisioning, reducing the need for manual intervention. But when automation can’t solve the problem, a dedicated backend team steps in. This hybrid model ensures round-the-clock coverage without compromising on quality. 

So you get faster response times, consistent service quality, and improved employee satisfaction. With standardized processes and built-in localization, BFSI firms can confidently scale support operations globally without sacrificing performance. 

7. Cross-Border Mobile Device Management and BYOD Governance

In mobile-first environment, BFSI firms must support thousands of mobile users, whether on company-issued devices or personal phones (BYOD), without compromising data security or compliance. 

There are challenges like securing mobile apps on various devices, enforcing BYOD policies consistently, responding to lost/stolen device incidents across time zones, and ensuring compliance with regional telecom laws and data protection mandates. 

An IT management platform streamlines this through:

• Unified MDM with localized policy enforcement and real-time control
• Containerization to separate personal and corporate data on BYOD devices
• Automated app distribution and policy deployment across devices
• Remote device wipe and incident handling across borders
• Compliance monitoring aligned with banking and telecom regulations
• Integration with local carriers for centralized SIM/device lifecycle management 

With ZenAdmin, these capabilities are delivered in a tightly managed ecosystem that drastically reduces security risks. Automated mobile management, combined with robust compliance controls, ensures that users stay productive while IT retains full visibility and control. 

Future-Proofing BFSI IT with ZenAdmin! 

Managing IT across global BFSI operations shouldn’t be as difficult, fragmented, and manual as it is today. From procurement and asset management to compliance, security, and support, every layer of IT demands precision, speed, and scale. 

Yet, most financial institutions are stuck juggling legacy systems, regional regulations, and siloed processes that slow them down. 

ZenAdmin changes that. With a unified IT management platform purpose-built for BFSI, ZenAdmin helps simplify cross-border operations, reduce costs, ensure compliance, and enhance service delivery, all while giving your teams the flexibility they need to move fast and stay secure. 

Book a demo today!