Continuous Availability for Financial Services
When we talk about the high availability in Banking Industry in the current world financial services are globally as well as 24 hours and 7 days’ full time consistent access with the best performance in transaction processing as possible is required and there is simply no time for system downtime or delay. When we focus on credit and debit card transactions: The trading applications are required processing in nanoseconds to authorization as well as process the transactions in real time. And there can be any small amount of system downtime could be possible.
Significance of Disaster Recovery: In banking industry any small amount of system downtime can be effect on large number of transactions which can be few seconds. However, continuity of the services is extremely important in the industry.
The best example can be given as: On September 11,2001, the terrorist attack destroyed the World Trade Centre in New York. Which is a highly Considered financial area and it ruined the financial system. The banks were located in world Trade center faced an unprecedented disaster. The companies’ back-up facilities which were too close to the primary facilities were disrupted as the primary facilities. Single points of failure in perceived diverse routing resulted in failed back-up communications systems. Due to this attack there is a significant increment of disaster recovery planning, which gives a birth to a new industry called – Disaster Recovery Industry (Source: Robert Bronner ,1997)
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The Objective of Disaster recovery planning is to protect the bank to minimize the loss during a disaster it is a critical approach to banks.
Disaster Recovery Planning divide in to the following measures,
• Preventive Measures: Preventive Measures focus on Stop the disaster before happening by identify the risks before it happens and minimize the risk. By Data backed up and off site, using surge protectors and etc.
• Detective Measures: To recognize the any kind of unwanted events among the IT infrastructure. Also can be focus on unfound new threats. This implementation consists fire alarm installation, up to date anti-virus softwares, network monitoring softwares and etc.
• Corrective Measures: Actions which can be taken after a disaster to restore the system back.