In the financial services industry, we never stop navigating, and adapting to, disruption and change. In today’s highly interconnected and digital world, both disruption and change can have far-reaching implications with the potential to undermine the safety, stability and integrity of an individual firm or, 更广泛地说, 全球金融体系. As the nature of risk has evolved over time, this reality has taken on greater significance for market participants and the regulatory community.
现在比以往任何时候都重要, financial institutions are reliant on IT systems and automation to deliver critical business functions. Technology resilience is a key enabler of business resilience, and IT departments must deliver solutions that increase service uptime and keep their business lines operational.
Here are three reasons to prioritize efforts to modernize your resilience capabilities:
- 不断增长的频率, sophistication and complexity of cyberattacks have significantly changed the nature of systemic threats.
Cyber risk consistently has been ranked as the number one concern by respondents to 存的系统性风险晴雨表 Forecast 2022 since the inception of the survey in 2013. The ever-increasing sophistication and frequency of cyber threats only intensifies concerns over their potential impact. Existing strategies like data replication – designed to protect against physical disaster – could end up worsening the impact of a cyber-attack by rapidly spreading malicious code or compromised data across datacenters. Firms should plan for data corruption and destruction by leveraging an immutable data protection solution for key business processes.
- Increased automation and expanding interconnectedness of the financial ecosystem has heightened its vulnerability to disruption and contagion.
Economies of scale in the financial sector have generated tremendous efficiency gains, resulting in substantial industry-wide cost savings. 然而, these advances have also reduced the number of critical service providers, which creates significant consolidation and increases concentration risk. This concept, and others, is discussed further in 存’s 互联性重新审视 白皮书. 此外, greater automation and continuous advances in IT systems have increased reliance on technology and accelerated the speed at which the impact of a disruptive event can spread. 另外, increased interconnectedness between IT systems of financial institutions and third parties has further heightened the potential for contagion. 把设计重点放在更小的地方, independent 组件 within the business functions to isolate failures and provide faster recovery processes.
- Resilience requirements have evolved and must be built-in at the application level.
Applications based on monolithic architectures that solely rely on infrastructure for availability and recovery are no longer sufficient to support modern application failure modes. Today’s applications are built on microservices and require designs that deliver granular protection and recovery processes that also mitigate the effects of failures on dependent services. Resilient capabilities need to be built in at the application level and designed from the ground up.
As firms modernize, IT departments should keep technology resilience at the center of everything they do by identifying and defining resilience considerations that should be applied across infrastructure and applications during the delivery lifecycle. For additional information on how to develop common reusable patterns made up of standard capabilities, 组件, and service to deliver consistent resilient solutions, 我鼓励你去阅读 The Power of Technology Resilience: A 框架 for the Industry 白皮书.