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Banking on Business Continuity

Banking on Business Continuity

Triumph Technology Solutions and Amazon Web Services (AWS) are committed to helping financial institutions such as banks and credit unions strategize for improved business continuity procedures. Business continuity refers to the ability of an organization to maintain its critical business functions during a disruption or an outage. In the context of AWS, these are the strategies and architectures that are implemented to ensure system reliability.

One of the pillars of the AWS Well-Architected Framework is reliability. Reliability refers to the ability of a system to operate without failing or disruption. By working with Triumph Technology Solutions, an institution can be assured that their system is Well-Architected from the VPC onwards by leveraging the AWS Global Network Infrastructure.

Financial institutions oftentimes are required to comply with regulatory compliances such as SOC and PCI and protect personally identifiable information (PII). These compliances require financial institutions to ensure data protection and retention. Triumph Technology Solutions can work with your team to understand specific business drivers and recommend services such as AWS Backup, AWS Config, and Macie that can be used to ensure that an organization is continuously complying with regulatory requirements and adhering to business continuity metrics such as service level agreements for time to restoration for an outage.

Payment processing and collection are some of the most critical business functions of a financial institution. It is essential that organizations are able to process transactions for their customers in a timely and reliable manner. When considering sectors of financial institutions, such as day trading or cryptocurrency, this is especially important. The ability for an organization to communicate with its customers during an unplanned outage or planned system maintenance is integral. Financial institutions can implement AWS native-services such as CloudWatch to supplement their monitoring and observation capabilities of their infrastructure. Additionally, in the event of an outage an organization can keep both their site-reliability engineering team and their customers abreast of metrics such as estimated time of restoration by using services such as Simple Notification Service via SMS protocol.

Financial institutions and other large enterprises are notorious for implementing systems that introduce significant operational and financial overhead, not to mention technical debt, over time. This could be due what technology was available during initial implementation, staffing, or strictly an architecture and design decision. These organizations can realize increased agility, innovation, and lower infrastructure costs in AWS by leveraging managed services. Instead of running long batch jobs via a virtual machine, services such as Lambda, Step Functions, API Gateway, or EC2 Spot Instances can be used to accelerate developer adoption and decrease the amount of money that is spent on infrastructure.

Triumph Technology Solutions and AWS can also advise financial institutions on game day scenarios and tabletop exercises. These in coordination with a simulated disaster can inform an organization about their preparedness for an outage and system reliability. Disaster Recovery (DR) and High availability are two different options to meet the Well-Architected pillar of Reliability, in addition to meeting certain regulatory compliances. By using services such as Amazon Fault Injector Simulator and Elastic Disaster Recovery financial institutions can establish a sound disaster recovery plan.

Triumph Technology Solutions is a trusted AWS Premier Tier partner with expertise in DevOps, migrations, cloud-native application development AI/ML, and data and analytics. If you’d like to hear more about how you can work with Triumph Technology Solutions visit AWS Marketplace to schedule a Solutions Architect on Demand at:

Geoffrey West, Customer Solutions Architect

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