The podcast discusses how Veeam's innovative approaches safeguard financial institutions against cyber threats and ensure operational continuity. It highlights the importance of data resilience, hybrid cloud solutions, and partnerships. The chapter explores implementing data resilience measures and emphasizes the need for instant recovery solutions. Finally, it emphasizes the significance of data resilience in customer experience and loyalty in organizations.
Financial institutions need modernized backup practices to ensure operational resilience and consumer trust.
Partnerships with service providers and managed service providers are crucial for handling data protection challenges and meeting evolving threats in the financial services ecosystem.
Deep dives
Importance of Cybersecurity and Operational Continuity in Financial Institutions
In this podcast episode, Rick Danover, Senior Director of Product Strategy at Veeam, discusses the importance of cybersecurity and operational continuity in financial institutions. He highlights the evolving nature of cyber risks and the need for financial institutions to be prepared for incidents such as ransomware attacks. Rick emphasizes the value of modernized backup practices in ensuring operational resilience and consumer trust. He urges organizations to plan for various scenarios and to prioritize applications that are critical to their business. Rick also mentions the significance of partnerships and the expertise of managed service providers in handling data protection challenges.
The Need for Reliable Backup Solutions in Financial Institutions
Rick Danover explains that many financial institutions are seeking to change their backup solutions due to the reliability issues associated with legacy systems. He underscores the importance of having a backup plan in place and the potential consequences of not protecting critical data. Rick emphasizes the innovation of Veeam's instant recovery technology, which enables organizations to quickly bounce back from incidents and restore operations seamlessly. He highlights the shift towards composable solutions and the value of partnerships with service providers to meet the evolving challenges in the financial services ecosystem.
Identifying Vulnerabilities and Enhancing Resilience in Financial Institutions
Rick Danover discusses the unique challenges faced by financial institutions in terms of identifying vulnerabilities and enhancing resilience. He emphasizes the need for organizations to conduct red team exercises and proactively test their systems for potential weaknesses. Rick highlights the value of backup and recovery plans and stresses the importance of involving the business in decision-making processes to drive change and allocate necessary resources. He also emphasizes the significance of two-human models and authorization constructs in ensuring data protection and mitigating risks.
Scaling Data Protection and Leveraging Partnerships
Rick Danover highlights the need for financial institutions to scale their data protection efforts and leverage partnerships to handle the increasing complexity and volume of data. He mentions Veeam's focus on partnerships and its network of professional service partners and managed service providers. Rick emphasizes the importance of discovery and understanding the various components of an organization's data infrastructure. He recommends starting small and achieving early successes to build trust and align stakeholders towards a comprehensive data protection strategy.
How prepared is your organization to move forward without fear in the face of ransomware, cyberthreats, ongoing digital transformation, and hybrid cloud adoption? More importantly, if your organization is disrupted, how fast can you recover and move ahead confidently?
To navigate these complex waters, we're joined on the Banking Transformed podcast by Rick Vanover is Senior Director of Product Strategy at Veeam. Veeam is at the forefront of providing cutting-edge solutions for data protection and management in the cloud era.
Rick shares insights on how Veeam's innovative approaches are safeguarding financial institutions against these threats and ensuring operational continuity in the face of ongoing digital transformation and cloud adoption.
This episode of Banking Transformed Solutions is sponsored by Veeam Software
In today's financial service landscape, security, compliance, and agility are paramount. Veeam’s Kasten K10 solution emerges as a top choice for banking and insurance companies looking to protect their Kubernetes data with leading security and compliance features like end-to-end encryption and RBAC. Kasten K10 supports a broad ecosystem of data services, empowering financial institutions to scale quickly and securely.Find out more https://www.kasten.io/free-kubernetes
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