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Data Security & Protection Solutions for Financial Services

Protect your data, wherever it resides

Modernize your data protection strategy

Delivering impeccable performance and mitigating the risk of disruptions from ransomware and other cyber threats can be daunting. Veeam provides Modern Data Protection solutions to lower costs, improve automation, increase intelligence, and innovate ways to reuse your data to drive new business.
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Deliver power, agility, and value with Veeam

Backup modernize
Ensure data immutability
Get unmatched data immutability, detect ransomware activity in real-time, and automatically respond to prevent further infection.
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Modernize data protection
Get the complete data protection solution for your data, whether it’s on-premises, in the cloud or a Software as a Service (SaaS) application.
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Automate operations
Ensure business continuity with intelligent automation that eliminates manual, time-consuming, and repetitive processes.
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Manage privacy, risk, and compliance
Strengthen your security by adhering to data privacy regulations, including General Data Protection Regulation (GDPR).

Financial services and insurance data protection trends 1

Veeam accelerates your backup and recovery strategy by providing deep visibility into your infrastructure, enabling higher recovery success rates. Here’s what industry executives and IT professionals say:
74%
feel exposed to backup threats 
32%
Experienced backup job and restore job failures 
19%
Feel confident they can meet recovery objectives

Recover your data with Veeam

Veeam’s solutions provide your organization with the confidence to recover from any cyberattack or disruption.
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Veeam is trusted by 81% of the Fortune 500

450,000+ success stories worldwide
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Learn more about data protection for financial services and insurance

What are the main elements of data protection for financial services, banking and insurance?

Backup: Backup is the first critical component of data protection for the financial services, banking and insurance industries. No matter where your data sits in your data center or in the cloud, reliable and automated backup is a must. In fact, government and industry regulations demand it, and in many cases, you may need to prove that backups are happening and are successful. Backup for physical, vertical, on-premises and cloud data should be easy to control so you can meet your business data security needs.

Recovery: But what good is a mountain of backups if you can’t recover them? Industry research tells us that financial institutions still struggle to recover data in an efficient manner. Financial institutions require recovery strategies that allow them to meet increasing business objectives for uptime and availability. That includes data in business-critical systems as well as second- and third-tier data and applications. This can get complex without integrated backup, recovery and replication tools, which give you the flexibility to recover the exact data you need.

Cloud acceleration: The cloud is a significant component of financial data protection, backup and recovery, both as a backup storage location and as a source of data that needs protection. The adoption of FinTech continues to shape how financial, banking and insurance companies deliver services to their customers. This new strategy continues to push more applications and data out of the traditional corporate data center and to a cloud and hybrid-cloud architecture. Backup and recovery can also be an efficient tool for moving data to the cloud by allowing organizations to back up, replicate and recover their production data as their migration mechanism.

Monitoring and analytics: Data monitoring ensures that both backups are performing to expected levels as well as helping users spot problems before they cause disruption. Again, a holistic approach is best. You should provide monitoring and analytics across your virtual, physical hybrid and public cloud environments. This gives financial services organizations not only visibility into their recovery readiness but allows them to ensure they are compliant with governance and regulatory mandates.

Ransomware and data security: Ransomware is everywhere, and few industries have as much at stake as financial institutions. A comprehensive data protection platform both monitors your systems for anomalies that indicate ransomware and allow you completely isolate backups to keep them malware-free and safe. When ransomware does strike, Modern Data Protection allows you to recover instantly with near-zero disruption to operations and service.

DR orchestration: When problems disrupt service delivery, you must act quickly to minimize downtime and business loss. Orchestration, or automation, of the recovery process, including Disaster Recovery (DR) planning and documentation, significantly streamlines recovery when disaster strikes.

Data reuse: One of the added values of data protection is the reuse of your backup data. By tapping into a complete replica of your production environment for data mining, security and update testing and development, you can accelerate and increase DevOps efficiencies.

How does GDPR and personal data protection apply to financial services? 

GDPR in the European Union and similar regulatory mandates around the world significantly changed the way financial services manage personal data and privacy. Institutions must ensure people’s privacy for transactions that they manage or facilitate. 

In fact, financial institutions must be able to guarantee the safety of all the personal data they collect and process, lest they potentially face strict penalties and loss of brand reputation. GDPR must be approached holistically with people, processes, and technology working together. Veeam plays an important role in protecting the safety and privacy of personally identifiable information. Veeam Data Integration API can be used to interrogate data that’s held in backups in multiple ways to ensure the compliance and discovery needed to comply with GDPR. 

Through integration, third-party solutions can access your backup data and open opportunities for: data mining, data classification, security analysis, eDiscovery and data forensics. Veeam Staged Restore is another Veeam capability that can hold a backup in a safe space for analysis and remove personal data before it’s returned to production.

Why is data protection important for financial services?

Financial services and insurance companies are in the middle of a radical shift in how they do business and provide services to customers and partners. The way we interact with banks, buy tradable currency and apply for home loans are great examples of how fast the financial services industry has changed. Due to competition from FinTech, older financial services organizations must adopt more modern technologies to provide cutting-edge customer experiences and keep up with data, privacy and security regulations. 

Veeam’s Modern Data Protection approach can assist any financial services organization in achieving its compliance objectives while accelerating data quality management and adhering to current and future regulations. The quality of data is a must to achieve high availability, but Veeam’s solution delivers data portability and cloud mobility through its unique data format and data movement capabilities.

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Take the next step to modernize and protect your financial service and insurance data with Veeam

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