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Fall Journal

Volume 32, Issue 3

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Friday, 10 May 2019 21:19

Counting on Disaster: What Every Financial Institution Should Know


Disaster planning and recovery are often viewed as the need for backup systems to safeguard an organization’s data. Here’s a little hint for the survival of your company ... it’s not just about the data. The IT and data elements of disaster preparedness are critical components to overall preparedness, but this is the first part of the story. In today’s technological and global environment, banks and financial institutions – and more importantly, their customers – rely heavily on access to their data 24x7x365. Any interruption of that access can be catastrophic to the organization. Increasingly, this data is not only for internal and customer use, but also for use by business partners and vendors supporting the organization. The availability of this information may literally be the difference between an organization’s survival and demise, and can reduce the disaster’s impact and recovery time. In today’s information-hungry world, reducing vulnerabilities of data