We have become virtually " zero tolerant " for digital failures. Customers expect seamless, 24/7 always-on services , regardless of maintenance windows (like backups or software upgrades), peak loads, or even disasters. For financial institutions , the stakes are even higher: downtime doesn’t just disrupt transactions. It erodes trust, breaches compliance, and damages reputation. Achieving near-zero downtime has become a non-negotiable requirement, driving IT teams to implement increasingly sophisticated strategies to ensure availability, protect data integrity, and reduce recovery times. At the same time, regulatory frameworks like DORA (Digital Operational Resilience Act) in the EU, the Operational Resilience Framework (CP29/19) in the UK or the Hong Kong Supervisory Policy Manual OR-2, now mandate digital resilience in the financial sector. Compliance is not just about avoiding penalties, it’s about securing trust and ensuring operational continuity...
In today’s financial services landscape, data is often dubbed the new oil, but unlike oil, its value increases when shared, not locked away. Yet financial institutions remain cautious about exchanging data. Regulatory constraints, competitive concerns, misaligned incentives, and inconsistent data quality are some of the key barriers slowing exchange of valuable data. Despite these obstacles, a future where banks, insurers, regulators, and Fintechs collaborate on data - ethically, securely, and with the customer’s consent at the center - offers powerful advantages for all parties involved. From smarter fraud prevention and better customer service to more competitive offerings and new business models, data sharing isn’t just a nice-to-have, it’s a strategic imperative. Sharing data across financial institutions sounds simple. Just exchange information, right? In reality, it’s complex: Privacy and GDPR Constraints : Most financial data is inherently personal, i.e. transactional reco...