Your head is probably spinning with all of the technology change happening right now if you've been working in the financial services sector. Banks, credit unions and similar organizations have long been conservative about technology, clinging to pen and paper when even the government has started to transition to the digital world. Of course, there are plenty of good reasons why financial institutions have been slow to adopt new solutions – they can't afford the risk.
You can't have key systems unavailable when clients want to access funds. You can't have a data loss incident compromise thousands of credit cards. You can't afford to be unable to process loans because an app isn't available due to a network outage. You can't afford these things, but they're all happening right now as the industry transitions to digital operations. What you need is a comprehensive system to protect data that isn't going to break the bank. This is especially true if you are a small or mid-sized financial services firm, and a cloud backup and Disaster-Recovery-as-a-Service solution could be exactly what you need.
3 ways enterprise cloud solutions enable better backup functionality in financial services
If you're working for a bank, credit union or similar organization, you know that you can't afford any downtime. You don't just need to avoid data loss, you need to eliminate downtime. Therefore, your problem isn't just one of disaster recovery, it is one of business continuity. This is where a DRaaS solution is so valuable. Here are three ways that DRaaS meets this need:
1. Immediate switch over to backup systems
If your premise-based IT hardware goes down or a disaster makes that data unavailable, a DRaaS plan can automatically trigger to make applications and infrastructure available. Furthermore, DRaaS plans include cloud backup for your data, making the key elements of your configuration immediately available in the event of a disaster.
2. DRaaS can exist behind the firewall
An enterprise or private cloud system can ensure that data and infrastructure hosted in the cloud is kept behind necessary firewalls and deployed through protected networks. This can be accomplished with either a premise-based or hosted solution, but either way you can get the control and data protection you need.
3. DRaaS offers inexpensive redundancy
Building out redundant, premise-based IT systems is incredibly expensive initially and also costly to expand and maintain over time. A DRaaS turns these costs into operational fees and makes it easier to establish an efficient recovery plan.
Financial services firms need a reliable, redundant and responsive backup and recovery systems, and DRaaS solutions are well equipped to meet these requirements.