Financial Services is one of the most heavily regulated sectors when it comes to the handling and storage of its data.
This data can be complex transactional information and is often highly confidential requiring high security, encryption, and traceability. The data can also be subject to periodic auditing by governing bodies. Data retention periods vary significantly between data types, industry sectors, and information category types. But, when it comes to storage it’s treated all the same. All data is backed-up on tape, despite the data having varying retention periods, separated across years and even decades.
For many in the financial services, the intricacy of managing multiple and various datasets creates challenges in determining the data’s treatment including what needs to be retained, destroyed securely, retrieved for compliance and auditing matters, or accessed for business growth and product innovation.
The financial services industry is looking for new ways to drive agile and resilient operations, capture data-driven insights, allow for better integration, and the cloud is at the heart of this.
With most financial services data residing on archive and backup tapes, it isn’t easy to proactively manage the growing volume of data in a way that rapidly meets the changing behavior of internal departments, regulatory stakeholders, and customer needs. To remedy this, institutions are modernizing legacy systems to improve their responsiveness and scale of services by shifting their massive volumes of tape bound data to the cloud.
Tape to cloud migration removes the constant need for tape refreshes and the growing complexity of data management while liberating your data into a single instantly accessible platform – no matter the age of the data. Archival data can be treated based on its utility, value and regulatory requirements in appropriate storage tiers in the cloud.
Tape Ark is committed to doing data justice. We have solutions for rapid and secure data ingest to maximize your data’s value and utility today, tomorrow, and beyond.
Financial Services Benefits
Secure data restore and reformat
Fast volume ingest
Enhanced data utility
Longlife data preservation
Modernize legacy systems
Tape Ark prides itself on its technical capability. Customers feel assured their objectives and unique challenges are well understood – what’s important to them, where they’re headed, and the opportunities that lie ahead.