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Protecting Finance Industry from Ransomware Attacks

13

AUGUST, 2018

The general stereotype associated with cyber-criminals is that they’re an organized community targeting large organizations. That really isn’t the case. Cyber-criminals, and thus ransomware, target the unprepared. Among their favorite targets, financial industry tops the list because of the information they process, store and backup.

Despite this awareness about cyber-threats and ransomware attacks, successful ransomware attacks are a common phenomenon in the finance industry. Cyber-defenses display little capability to avert these attacks. Without backup and disaster recovery (DR) as the last line of defense, all FinTech organizations are at risk of getting attacked by ransomware, having their data encrypted and their businesses disrupted.

However, setting up reliable backup and disaster recovery solutions to protect the workloads of Finance industries imposes a number of challenges. Let’s explore some of these challenges.

Data Security Challenges of FinTech Organizations

Data Ubiquity – Customers require data mobility and accessibility. The days of paper environments are out the door. Mobile devices, home systems, laptops, tablets and other devices need to have access to transactional data. To facilitate this, Fintech Organizations go through a data security hell. Due to the requirements of their customers, they have to make sure that data is always accessible, secure and safe from cyber-threats like ransomware.

On-premises Data Retention – Finance industries need to process a lot of data and they cannot tolerate delay because it adversely affects end user experience and satisfaction. That is why finance industries maintain on-premises infrastructure. With Network Attached Storage (NAS) appliances FinTech organizations ensure enhanced data mobility and increased overall productivity. With the big data moving through its on-premises infrastructure, FinTech organizations find it especially challenging to ensure recoverability and availability for their on-premises infrastructure in the event of a ransomware attack.

Compliance – FinTech processes transactional records and Personally Identifiable Information (PII) such as names, credit card numbers, social security numbers etc. A number of compliance regulations setup specific guidelines about the data protection, recoverability and security of this data. Adhering to all the rules and regulations is a big challenge for FinTech organizations.

Addressing FinTech Data Security Challenges with StoneFly DR365™

StoneFly’s innovative backup and disaster recovery appliance equips FinTech organizations with the necessary means to address all their data security challenges and protect their workloads from cyber-threats like ransomware. DR365™ is equipped with an enterprise-level software that delivers proactive detection of ransomware based off of anomalous behavior. Our backup and DR appliance detects the ransomware and averts it before there’s a need to recover.

Reduced RTOs and RPOs for FinTech Workloads

For workloads stored in other servers and backed up in DR365™, the appliance delivers reduced RTOs (Recovery Time Objectives) and RPOs (Recovery Point Objectives). FinTech organizations can reduce downtime and recover from ransomware attacks within minutes with services like Full and Instant Virtual Machine (VM) recovery. DR365™ can easily backup on-premises infrastructure and ensure the availability of mission-critical data. Large enterprises can also leverage the scale-out configuration of DR365™. The scale-out configuration can be setup from TeraBytes (TBs) and can grow to store PetaBytes (PBs) of data.

DR365™ also enables enterprises to backup their virtualized resources in the appliance. StoneFly’s innovative technology enables FinTech organizations to backup all kinds of workloads and ensure fast and durable recovery for their businesses.

Data Mobility and Recoverability

DR365™ enables IT administrators to recover the backed up data from anywhere, at any time. Using the simplified GUI that DR365™ delivers, data recovery can be executed with a few clicks. The restore is seamless and is concluded within minutes. StoneFly’s technology ensures data mobility, accessibility and high availability.

Complete and Compliant Solution

DR365™ is a complete solution that delivers enterprise-level services and enhanced recoverability in a single box. The backup and DR appliance delivers cloud connect to Microsoft Azure, Amazon Web Services (AWS), and other public clouds and to StoneFly’s private cloud.

In order to setup an industry compliant backup solution, FinTech organizations can leverage the cloud connect services and integrate Microsoft Azure cloud with DR365™ to build a full featured hybrid backup solution.

The powerful combination of DR365™ and Microsoft Azure will enable FinTech organizations to setup a feature-rich backup solution that is compliant to all industry regulations. The integration of Microsoft Azure cloud will enable businesses to leverage the security policies of Microsoft Azure cloud together with the reduced latency that DR365™ delivers.

We wrote about Microsoft’s cloud security policies. To read the article, click here: Microsoft Azure Cloud Security for Enterprise Data and Applications.

StoneFly DR365™ backup and DR appliance not only makes FinTech organizations ransomware-proof but it also effectively addresses the challenges of FinTech organizations.

Interested about DR365™? Learn more about the appliance here: DR365™ – The complete Backup and Disaster Recovery Solution.

Do you want to protect your enterprise workload with DR365™? Give us a call at (510) 265 1616 or send us an email at sales@stonefly.com.

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