It’s no secret that the financial sector has prioritized digital channels. Managing data is now fundamentally important, both from a customer experience and a compliance perspective. Therefore, financial institutions of every size must prioritize and plan for efficient and rapid disaster recovery to meet compliance requirements, minimize downtime and—most importantly—meet the expectations of customers during and after a disaster or disruptive event.
Even though disasters like hurricanes, tornadoes and ice storms tend to be rare, they have the potential to cause catastrophic damage to organizations that find themselves unprepared.
Cyberattacks and data breaches, on the other hand, occur with a frenzied frequency. According to a recent Verizon Report, 58% of all data breaches in 2020 targeted personal data.
