According to Larry Lang, CEO of recovery and continuity provider Quroum being prepared and proactive is crucial. Banks must ensure all important records are not only in a safe location, but a duplicate set should be stored in the cloud.
"As traditional backup methods become obsolete, newer hybrid cloud solutions enable companies the additional security in knowing their servers and data are protected and can be pulled up at the click of a button," Lang adds.
Financial companies also need to be aware of the time it takes to recover information and get their servers up and running. Lang says. "When it comes to financials, businesses can’t afford to be offline for hours, days and potentially weeks waiting for their IT departments to figure out the problems," he notes.
Lang also stresses the importance of testing disaster recovery systems.
"With a constant influx of patches and updates, businesses that test their systems only once a year become obsolete in times of disaster," Lang notes. "In other words…testing on a regular basis is crucial to business continuity."