5 benefits of a cloud disaster recovery plan for institutions

Any business that maintains and uses data should technically have a means of backing up and recovering that data in the event of a disaster. For financial institutions like banks and credit unions, creating a disaster recovery plan is a must.

The goal of a disaster recovery plan (DRP) is simple: ensure your institution has a structured plan to recover business operations in the event of a disaster or cyberattack. And one of the main elements of a successful DRP lies in your institution’s ability to back up your IT environment and recover data.

But, thanks to advances in virtualization and cloud technologies, modern data recovery options are now affordable for most banks and credit unions seeking to update their DRP.

What is Disaster Recovery for Banks and Credit Unions?

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.


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