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Recovery measures implemented in the banking industry following a calamity.

...businesses can't escape the odds of calamities, regardless of whether they're nature-induced or human-made. If the 9/11 catastrophe didn't serve as a dark foreboding, then the COVID-19 outbreak certainly rang the alarm bell, signaling that life's predictable path can be disrupted by unseen...

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Disasters, whether natural or human-induced, are an inevitable part of life. If the terrible events...
Disasters, whether natural or human-induced, are an inevitable part of life. If the terrible events of 9/11 didn't make this clear, then the COVID-19 pandemic has served as a powerful reminder that life's usual path can be dramatically altered by uncertainty. These uncertainties can have a profound impact on businesses as well. Therefore, it is essential...

Recovery measures implemented in the banking industry following a calamity.

Dodging Disasters: A Bank's Guide to Staying Afloat

Life's a rollercoaster - alternating between smooth sailing and sudden drops. We've learnt the hard way, thanks to events like 9/11 and COVID-19, that uncertainty can upend our routine and businesses aren't exempt. In banking, an effective disaster management plan isn't just a luxury - it's a must-have. Technology has made it simpler to handle the tons of data banks churn on a daily basis, offering avenues for backup and recovery.

This piece shares insights on how the banking sector can stay afloat amidst disasters, using Enterprise Computing Ltd.'s (ECL) work with AccessBank Liberia as a case study.

The predicament

Data - customer and transactional - forms the backbone of any bank's operations. Processing takes place within a primary service delivery area. But what happens when this area is battered by a disaster or an unforeseen event? Access might be limited or cut off completely, causing a lag or halt in business operations. This affects the bank's efficiency and the service it provides to its clients.

To avoid such disruptions, every bank needs a robust backup system - a disaster recovery site (DRS) housing copies of all data collected for business processes.

The strategy

To ensure constant access to its diverse clientele, AccessBank Liberia wanted to upgrade its DRS. ECL was brought on board to manage setup, installation, and support.

The project aimed to improve the DRS by:

  • Upgrading infrastructure
  • Enhancing service availability
  • Increasing server performance
  • Streamlining business continuity processes

To guarantee success, the key deliverables were:

  • Completing all work as per the project scope
  • Installing hardware systems
  • Configuring systems in high availability for disaster recovery
  • Ensuring the reachability of DRS resources via the existing infrastructure

Deployment blueprint

The delivery would happen in two phases, a mix of on-site and remote sessions. The team managed initial racking and cabling on-site, and later finalized system configurations remotely. The project was completed within a month, post which ECL offered post-implementation support to the bank.

Quality management

Deploying virtual infrastructure and setting up hardware systems is in ECL's wheelhouse, thanks to its experience in server and storage deployments. As AccessBank Liberia's partner, ECL leveraged its expertise in delivering similar solutions to bring this project home.

The quality standards followed included:

  • Meeting design requirements
  • Adhering to best deployment practices
  • Implementing quality management system practices

Insights gained

Process deciphering

Understanding the project's scope was critical for effective implementation. ECL conducted a thorough analysis of AccessBank Liberia's processes and infrastructure, pinpointing the areas that required implementation, upgrade, and support.

Collaborative spirit

Time is money, and effective collaboration is vital for timely project completion. ECL's impressive delivery speed can be attributed to AccessBank Liberia's commendable support in making necessary resources available to the project team.

Knowledge transfer

A post-implementation knowledge transfer session between teams was crucial. This ensured that AccessBank Liberia's IT team was familiar with the DRS processes, ensuring smooth continuity even after post-implementation support was withdrawn.

Enterprise Computing Ltd. (ECL) is an ISO-certified company providing global, enterprise-scale solutions alongside 24/7 fanatical support. Services offered include hybrid cloud infrastructure, cybersecurity, business process automation, and back-up and recovery. ECL has a growing presence and is headquartered in Ghana, with a regional office in Liberia.

AccessBank Liberia (ABL) is a leading financial institution dedicated to making financial services accessible to Liberian citizens, catering to micro, small, and medium-sized enterprises.

In conclusion

ECL remains a reliable partner for not only disaster recovery and backup solutions but also tailor-made enterprise-related solutions with round-the-clock support. Utilizing these strategies, AccessBank Liberia can ensure robust business continuity and disaster recovery capabilities.

Banks can help themselves stay afloat amidst disasters by following these steps, based on general principles of IT infrastructure management and disaster recovery:

  1. Risk Assessment: Identify potential threats to your operations and prioritize mitigation strategies based on the risks.
  2. Disaster Recovery Plan (DRP): Develop a detailed DRP outlining procedures for restoring IT systems and operations in the event of a disaster.
  3. Redundancy and Backup Systems: Implement redundant systems and off-site data backups to ensure quick restoration of essential data and applications.
  4. Regular Testing and Training: Regularly test the DRP and conduct training exercises to ensure staff familiarity with recovery procedures.
  5. Cybersecurity Measures: Implement robust cybersecurity measures to shield against data breaches and cyber attacks.
  6. Collaboration with Third-Party Providers: Partner with experts like ECL to leverage their knowledge in setting up and managing IT infrastructure.
  7. Business Impact Analysis (BIA): Understand the potential impact of disruptions on business operations to prioritize recovery efforts based on business criticality.
  8. Continuous Monitoring and Improvement: Regularly review and update the DRP to keep it effective and aligned with changing business needs.

By staying one step ahead, banks can maintain continuous operations and serve their clients effectively even in the face of disasters.

  1. Implementing state-of-the-art technology for handling financial data can help banking institutions maintain functionality during disasters, by offering options for backup and recovery.
  2. A robust disaster recovery site (DRS) equipped with updated infrastructure and high-performance servers is essential to ensure seamless business operations for banks, serving as a backup in case of unexpected disruptions.
  3. To cater to a diverse clientele, banks like AccessBank Liberia should strive to upgrade their DRS, as improved service availability and streamlined business continuity processes can significantly enhance service quality.
  4. Enterprise Computing Ltd. (ECL) can serve as a valuable partner for banks, leveraging expertise in areas like disaster recovery, hybrid cloud infrastructure, cybersecurity, and business process automation to deliver tailor-made solutions.

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