Governments worldwide are making policy changes that will ensure financial institutions strengthen their resilience, enabling them to maintain operational continuity during disruptive events. In Australia, legislation is tightening for APRA-regulated financial services industries, with CPS 230 set to take effect from July 1, 2025.
Organisations are now focused on fortifying their operations to ensure they adhere to this prudential standard. However, navigating the realm of data technology presents various challenges for businesses seeking to enhance their operational resilience:
- Operating with outdated software, as updates often require system outages, which can be touted as a valid rationale for postponing rather than inconveniencing customers.
- Guarding against vendor lock-in, as businesses must shield themselves from potential failures of single suppliers.
This article delves into the misconceptions surrounding operational resilience in the financial sector.
A multicloud, open-source data platform stands as the cornerstone for empowering companies to effectively manage their data across diverse cloud providers, ensuring seamless business continuity and mitigating the risks associated with vendor lock-in.
Discover how Aiven’s customer, Digital Asset Research, has leveraged this approach to bolster resilience and minimise downtime.
