Thursday, 11 June 2015 ehdf

Three Ways Financial Firms Can Benefit from Data Centre Services

Traditional transactions, customer relationship management data and voice call logs—financial institutions are sitting on a gold mine of data, losing which can cripple their organization. In fact, the inability to quickly assimilate, analyze, and act on this data translates into losing customers to competitors.

Today, more and more companies are recognizing the need to invest in data centre services, where they see the following benefits:

1.Security: In order to protect customers’ sensitive data and other company information, financial firms demand airtight security, compliance and efficiency. To address these concerns, data centre providers offer enhanced security measures, including vulnerability scanning, network and web application firewalls, log management and threat detection, anti-virus and anti-DDoS services among others.

2.Fast and reliable connectivity: Fast and reliable connectivity is a pre-requisite for financial firms to thrive. They also require support for latency-sensitive applications such as payment processing, market data delivery and online trading. Working with a data centre provider provides benefits of Service Level Agreements (SLAs) that clearly outlines the provider’s responsibilities regarding guaranteed uptime, which is essential for financial firms that can’t afford any downtime. Modern data centres are designed to provide complete infrastructure redundancy, which allows scheduled and emergency maintenance to take place without affecting the entire system.

3.Business Continuity: Gartner says that 43% of companies are immediately put out of business by a “major loss” of computer records, and another 51% permanently closed their doors within two years — leaving a mere 6% “survival” rate. Since data is of paramount importance to financial intuitions, it’s a good idea for them to have a backup disaster recovery site at an alternate location.

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