Business Continuity for Financial Services
The need for business continuity planning (BCP) in the financial services industry is of utmost importance as these institutions need to be well prepared to respond in times of disaster, emergencies, crisis, threats, and other incidents. Clients need to know their finances are safe and financial institutions need to maintain a high reputation of trust to be successful in the industry.
A key reason for BCP is due to the scope of work that financial institutions provide. They need to keep accurate and up-to-date records of clients’ personal and private data, as well as client statements, loans, investments, credit cards and other important files. Another crucial reason is banks need to keep their client’s money free from harm. Third, banks and financial institutions have a complex and detailed infrastructure that needs to be fully operational 24/7 which entails their ATMs, networks, website and phone applications are all up and running. In the event their system goes down, the organization needs risk mitigation and disaster recovery strategies to resolve the issue as quickly as possible. There are also third-party vendors, employees, contractors, and others that are dependent on these institutions and need to have a place in a BCP and recovery plan.
Strategic BCP ResilienceONE provides a complete and concise software solution to exceed the requirements when creating a Business Continuity Plan for financial institutions. It offers risk management to protect the infrastructure, disaster recovery to restore IT assets, risk assessment to keep threats in check and other vital services. In addition, ResilienceONE stands behind the solution 100% with Audit Protection, a contractual assurance on passing audits with external regulators. Under this, we remediate any deficiencies in our work at our cost.
If financial institutions cannot operate, this can be detrimental to the institution and the community. Don’t leave the planning to chance. Create a sound business continuity plan and stay ahead of the competition.