How Banks Can Insulate Against Systemic Failures Like the AWS Outage
This Financial Brand article examines how banks can build stronger resilience against large-scale cloud outages through redundancy, multi-cloud design, and strategic planning. Connect with Bross Group to explore how to enhance your organization's cloud continuity strategy.
What caused the recent AWS outage?
The AWS outage was caused by disruptions in Amazon Web Services' cloud services, which impacted many essential online services, including those used by banks and fintechs. This incident highlighted the fragility of the internet and the increasing frequency of such outages.
How can banks protect themselves from outages?
Banks can implement several strategies to enhance their resilience against outages. This includes participating in organizations like the Financial Services Information Sharing and Analysis Center (FS-ISAC) for cyber intelligence, utilizing backup systems through initiatives like Sheltered Harbor, and ensuring redundancy in their operations to recover quickly from disruptions.
What regulatory changes are needed for better cybersecurity?
Regulatory reforms should focus on creating a more collaborative oversight process that involves industry executives and their expertise. This approach would enhance the quality of regulations and strengthen the cyber defenses of financial institutions, addressing the evolving risks posed by new technologies and cyber threats.
How Banks Can Insulate Against Systemic Failures Like the AWS Outage
published by Bross Group
Bross Group provides comprehensive IT solutions designed to address businesses' unique pain points. From system monitoring and cost optimization strategies, real-time threat detection to secure cloud data backup solutions, they ensure efficiency and security.
Bross Group approaches IT from the business owner's perspective, abstracting you from having to "understand the technology"; you just focus on your business. The effectively empower workforces with secure access, collaboration platforms, and device management, regardless of location. Moreover, this company offers solutions for scalable growth - no matter the pace of your business expansion. With their help, technology becomes a driving force, not a hurdle, in your growth strategy.
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