For a bank, there is nothing more important than offering a permanent customer experience. However, most current technologies are not adequate to guarantee this. Periodic backups that only provide a snapshot on time are not supported by recovery time target (RTO) and recovery point target (RPO) requirements.
Sankarson Banerjee, chief information officer of RBL Bank believes that banks today have become a 24×7 business, such as e-commerce, and the data and applications underlying banks should always be activated. This has made the modernization of backup and storage strategy a business priority.
Before, the concept of branches was predominant and there was relatively less interoperability. For a customer of a particular bank, all its operations used to be within that bank. In the event of a system error or other malfunction, the customer waits to make a transaction until the bank’s operations resume.
Today, customers are doing a lot of banking transactions all the time. In the event that the services of one bank are inactive, it will not only affect your own customer, but also the customer of the other bank because the transaction will not take place.
“It has become a much more interconnected system and it has become a system with no end-of-day or end-of-month concept. Everything has become real-time and we have to adapt to make the our data and applications are available all the time, ”Banerjee said.
Backup and recovery at the forefront of cloud adoption strategy?
Typically, backup requirements are of several types and there is no single answer for backup and storage, according to Banerjee.
First, things need to be restored very quickly. Backups are done before upgrades, and if this upgrade doesn’t work, the previous version should be restored quickly.
There are backups that are made continuously that need to be stored long term.
“Long-term storage (over ten years or so) is not good for the cloud because it is relatively expensive. Tape-like outdoor storage is still by far the most efficient method in terms of costs and also more reliable, ”he added.
In some areas, RBL seeks to move to the cloud or hard disk storage.
“Of course, in certain areas the storage in the cloud is much more efficient that the installations of the hard disk. However, local backups are more controlled and reliable, are easier to compensate for, and remain secure for a longer period of time. With the cloud, it’s easier to back up and add incremental storage, but it’s less obvious how to store it over a longer period of time, ”Banherjee said.
Also, the question arises that if a company stores something for ten years, are you sure you will have a relationship with your cloud provider? “But hard drives are your property and will be there for a much longer period of time,” he maintained.
“As we continue, we compute and the data goes more to the cloud, the main backup goes more to the cloud and the instant restore versions also tend to go more to the cloud,” he added.
Security against ransomware
As cyberattacks in India experienced a massive upswing in 2020, it has become even more crucial for BFSI technology leaders to protect their organizations from cyber attacks like ransomware.
According to Banerjee, to deal with ransomware it is important to ensure clean backups that cannot be damaged in the event of a ransomware attack.
“This is done through multiple strategies. We have clean live backups and off-site backups. Off-site backups are easier to protect against ransomware, but are more difficult to restore. Even with online backups we are trying to get more ransomware focused on making one-way doors, preventing backups from being infected by ransomware, while maintaining many versions, ”he stated.