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Financial services companies need to ensure their data is backed up securely, has on-site encryption, can be restored quickly and that their data backup and disaster recovery (BDR) solution helps them meet compliance regulations. How can managed service providers (MSPs) help these businesses? Here's a closer look at how service providers can fulfill financial services companies' BDR requirements.
2 Min Read
The financial services sector is highly regulated, which can make it difficult for many financial services companies to manage their sensitive information.
However, managed service providers (MSPs) can help banks, brokerage firms, lenders and other financial services businesses protect their data and comply with federal regulations.
Financial services companies need to ensure their data is backed up securely, has on-site encryption, can be restored quickly and that their data backup and disaster recovery (BDR) solution helps them meet federal compliance standards.
MSPs that understand financial services companies’ BDR requirements can help these businesses secure their sensitive information and mitigate downtime.
Data BDR software company Datto pointed out that there are four requirements that service providers should consider when they offer BDR solutions to financial services companies:
All of a business’ data must be backed up securely – Storing backups both on-site and at multiple data centers allows an MSP to protect a financial services company’s data and ensure that this information is accessible at any time.
On-site encryption is key – Offering AES 256 encryption locally, in transit and in the cloud can help a financial services business minimize its security risks.
Business data must be restored quickly – A financial services company must be available 24/7, and to limit downtime, an MSP should be able to restore this business’ data quickly after a disaster.
A BDR solution must help businesses meet compliance regulations – Ensuring all of a financial services company’s data is available in an auditable format can help this business comply with federal regulations.
Financial services businesses are required to manage complex and proprietary data, and MSPs can help these companies protect their sensitive information by offering them a data BDR solution that meets all of their requirements.
Share your thoughts about this story in the Comments section below, via Twitter @dkobialka or email me at [email protected].
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