Business Continuity Planning for Financial Services

October 10, 2001

Abstract

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.

Clients can download this report electronically by clicking on the icon to the left.

        

Send mail to info@celent.com with questions or comments about this Web site.

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned subsidiary of Marsh & McLennan Companies [NYSE: MMC].

Media Contacts

North America
Michele Pace
mpace@celent.com
Tel: +1 212 345 1366

Europe (London)
Chris Williams
cwilliams@celent.com
Tel: +44 (0)782 448 3336

Asia (Tokyo)
Yumi Nagaoka
ynagaoka@celent.com
Tel.: +81 3 3500 3023

Table of Contents

 

New York, NY, USA October 10, 2001

Return to Abstract

INTRODUCTION 3
CREATING & MAINTAINING A PLAN 4
BUSINESS IMPACT ANALYSIS 6
BUSINESS CONTINUITY IN A REAL-TIME WORLD 8
STAFF DISLOCATION 10
THE ROLE OF KNOWLEDGE MANAGEMENT 11
ESTIMATING COSTS 12
FULL-SERVICE PROVIDERS 14
CONCLUSIONS 16

 

        

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