Business Continuity Planning for Financial Services

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9 October 2001


New York, NY, USA October 10, 2001

Celent Communications presents an overview of the business continuity planning issues facing financial services firms

In the wake of the September 11th attack on the World Trade Center, many financial services firms are re-evaluating their business continuity plans. Celent's new report is designed to help executives at these firms familiarize themselves with the concepts and practices of business continuity planning.

Today痴 technology-dependent financial services firms must be able to react swiftly and successfully to recover from physical or electronic attacks on their staff, facilities, and systems, or risk costly downtime and disruption.

"Until recent events demonstrated its necessity so tragically, business continuity planning had not had high priority in many organizations," said Celent analyst Matthew Josefowicz, author of the report. "Many senior executives have not considered business continuity planning a core part of their missions."

While core data protection and remote back-ups are long-established and widely-used practices, protecting data without protecting the systems that run it and the organizations dependent upon both is insufficient to ensure a speedy recovery from catastrophic events, let alone the continuing provision of service during a catastrophe.

The report includes overviews of conducting a business impact analysis, considering the needs for high-availability systems, and the role of knowledge management and staff preparedness.

A Table of Contents is available online.

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