Generically speaking Managed services in the banking and financial industries refer to the practice where a financial institution outsources specific IT functions, operations, or infrastructure management to a third-party service provider.
This provider then takes responsibility for the proactive management, monitoring, and maintenance of these services, often based on a service level agreement (SLA).
For the banking and financial sector, managed services are particularly crucial due to the highly sensitive nature of financial data, the need for uninterrupted services, and the complex web of regulations they must adhere to.
These services go beyond simple IT support; they involve a provider taking on the ownership and accountability for the performance, security, and compliance of the outsourced functions.

