Prioritizing operational resiliency to reduce downtime in payments

The
average
lost
business
cost
following
a
data
breach
was
USD
1.3
million
in
2023,
according
to

IBM’s
Cost
of
a
Data
Breach
report.
With
the
rapid
emergence
of
real-time
payments,
any
downtime
in
payments
connectivity
can
be
a
significant
threat.
This
downtime
can
harm
a
business’s
reputation,
as
well
as
the
global
financial
ecosystem.

For
this
reason,
it’s
paramount
that
financial
enterprises
support
their
resiliency
needs
by
adopting
a
robust
infrastructure
that
is
integrated
across
multiple
environments,
including
the
cloud,
on
prem
and
at
the
edge.

Resiliency
helps
financial
institutions
build
customer
and
regulator
confidence

Retaining
customers
is
crucial
to
any
business
strategy,
and
maintaining
customer
trust
is
key
to
a
financial
institution’s
success.
We
believe
enterprises
that
prioritize
resilience
demonstrate
their
commitment
to
providing
their
consumers
with
a
seamless
experience
in
the
event
of
disruption.

In
addition
to
maintaining
customer
trust,
financial
enterprises
must
maintain
regulator
trust
as
well.
Regulations
around
the
world,
such
as
the

Digital
Operational
Resilience
Act
(DORA),
continue
to
grow.
DORA
is
a
European
Union
regulation
that
aims
to
establish
technical
standards
that
financial
entities
and
their
critical
third-party
technology
service
providers
must
implement
in
their
ICT
systems
by
17
January
2025.

DORA
requires financial
institutions
to define
the
business
recovery
process,
service
levels
and
recovery
times that
are
acceptable
for
their
business
across
processes,
including
payments.
Traditionally,
this
has
caused
covered
institutions
to
evaluate
their
cybersecurity
protection
measures.

To
meet
customer
and
regulator
demands,
it
is
critical
that
financial
institutions
are
proactive
and
strategic
about
creating
a
cohesive
strategy
to
modernize
their
payments
infrastructure
with
resiliency
and
compliance
at
the
forefront.

How
IBM
helps
clients
address
resiliency
in
payments

As
the
need
for
operational
resilience
grows,
enterprises
increasingly
adopt
hybrid
cloud
strategies
to
store
their
data
across
multiple
environments
including
the
cloud,
on
prem
and
at
the
edge.
By
developing
a
workload
placement
strategy
based
on
the
uniqueness
of
a
financial
entity’s
business
processes
and
applications,
they
can
optimize
the
output
of
these
applications
to
enable
the
continuation
of
services
24/7.

IBM
Cloud® remains
committed
to
providing
our
clients
with
an
enterprise-grade
cloud
platform
that
can
help
them
address
resiliency,
performance,
security
and
compliance
obligations.
IBM
Cloud
also
supports
mission-critical
workloads
and
addresses
evolving
regulations
around
the
globe.

To
accelerate
cloud
adoption
in
financial
services,
we
built

IBM
Cloud
for
Financial
Services®,
informed
by
the
industry
and
for
the
industry.
With
security
controls
built
into
the
platform,
we
aim
to
help
financial
entities
minimize
risk
as
they
maintain
and
demonstrate
their
compliance
with
their
regulators.

With
approximately
500
industry
practitioners
across
the
globe,
the
expertise
of
the

IBM
Payments
Center®
provides
clients
with
guidance
on
their
end-to-end
payments’
modernization
journey.
Also,
clients
can
use
payments
as
a
service,
including
checks
as
a
service,
which
can
help
give
them
access
to
the
benefits
of
a
managed,
secured
cloud-based
platform
that
can
scale
up
and
down
to
meet
changing
electronic
payment
and
check
volumes.

IBM’s
swift
connectivity
capabilities
on
IBM
Cloud
for
Financial
Services
enable
resiliency
and
use
IBM
Cloud
multizone
regions
to
help
keep
data
secured
and
enable
business
continuity
in
case
of
advanced
ransomware
or
cyberattacks.

IBM®
can
help
you
navigate
the
highly
interconnected
payments
ecosystem
and
build
resiliency.
Partner
with
us
to
reduce
downtime,
protect
your
reputation
and
maintain
the
trust
of
your
customers
and
regulators.

Learn
how
IBM
can
help
you
on
your
payments
journey