Bank on backup: how banks can build up resilience to ransomware

The truth of digital transformation is that we’re all now much more vulnerable than we used to be. The rise of online and mobile services has been both a blessing and a curse – the more we rely on data to help run our businesses and our lives, the greater the impact that hackers can have by interfering with it. This is particularly true for the banking industry, which has been entrusted to handle huge volumes of highly sensitive customer data. 

The challenge of keeping this data safe and secure has become even more difficult with the accelerated shift to remote working during the Covid-19 pandemic. Owing to this, banks have had to rapidly extend their IT infrastructures with complex combinations of cloud, virtual and on-premises infrastructures. This has not been without consequence: Veritas research found that nearly two-thirds (63 percent) of banks now suffer from a transformation gap, meaning that their security measures lag behind the complexity of their IT infrastructures. While banks continue to collect vast amounts of personal data, their visibility of it and ability to protect it is waning. 

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