Redefining Disaster Recovery: New Technologies Provide Disaster Planning Challenges and Solutions

In addition to covering physical data centers, branches, and ATMs, banks' disaster recovery and business continuity plans now have to cover digital and virtual presences as well. New technologies such as social networking, mobile and the cloud can help.
February 23, 2012

Rethinking Threats In a Dangerous World

By Danne Buchanan, EVP, Head of North America Operations, Fundtech (Jersey City, N.J.)

The world has become a dangerous place, and disaster planning has moved from thinking about how to recover a data center and data to something far more complex. Most worrisome today are the daily threats from individuals or organizations that want to disrupt, disable or attack your company. The likelihood of a denial-of-service attack, hacking or malicious claims using social media appears to be far greater than what we used to think of when planning for disaster recovery.

It seems as if new payment technologies, such as mobile, are coming to the market almost daily. The good news is that people are generally aware of security threats and are thoughtful about combating them. The bad news is that many aren't, and these are the weak links in security that make everyone vulnerable.

The most disheartening aspects of security are the internal threats. A few years ago, who would have imagined that an organization like WikiLeaks could make the claim that it has enough detrimental information to "bring down a big bank"?

Traditional DR and BCP are table stakes today; they're not nearly enough to address the potential threats in the marketplace. We need to anticipate the unimaginable, continuously test our systems and vigilantly educate our personnel. It is doing everything you can to stay ahead of the bad guys.

The meaning and complexity of disaster recovery has grown, and organizations need to understand how to mitigate these risks on an ongoing basis. Engage everyone in the process, educate everyone about the risks and test yourself regularly.

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