Resilience regulation - are you ready?
New FCA Regulations for Digital Operational Resilience come into force in March 2022. Following hot on its heels is the EU's Digital Operational Resilience Act, with huge implications for Financial Services firms.
The countdown to compliance is on. Are you ready?
Why regulate IT resilience?
"Operational disruptions can cause wide-reaching harm to consumers and pose a risk to market integrity, threaten the viability of firms and cause instability in the financial system." (FCA Policy Statement, March 2021)
By March 2022, Financial Service firms must comply with FCA Regulations on Digital Operational Resilience, and also be prepared to implement changes to comply with the EU's Digital Operational Resilience Act.
Find out what steps to take in our Practical Guide to Digital Operational Resilience.
Are you ready?
Cloud adoption and estate modernisation are creating increasingly complex, large scale hybrid IT environments for banking and financial services.
IT complexity poses a bigger risk than ever, and this is why IT Operational Resilience has never been more important.
To safeguard Finance's digital future, the FCA, PRA and BoE are introducing regulation, which comes into force in March 2022.
By March 2022, regulated service providers must have:
- ensured visibility by identifying critical applications and vulnerabilities;
- ensured reliability by defining impact tolerances;
- ensured agility by identifying and implementing solutions to address vulnerabilities and meet impact tolerances.
Monitor, observe and manage at scale
Orchestration can deliver the visibility, agility and reliability required for compliance with resilience regulation and to drive greater value from your technology investments.
Gartner highlights these 3 goals to deliver mature estate orchestration:
1) Visibility through performance monitoring;
2) Agility through automation of operations;
3) Reliability through service availability.
Addressing these priorities goes beyond visualisation to orchestration, actively monitoring and managing workloads across all the environments you operate in.
Gartner's 2021 Hype Cycle for Monitoring, Observability and Cloud Operations cites Digital Platform Conductor tools, like Cloudsoft AMP, as being a transformational solution to the observability challenge.
A US-based, Tier 1 Global Bank achieves visibility, agility and reliability.
The Bank have been running Cloudsoft AMP for over 2 years, with AMP providing a single control plane to monitor, orchestrate and automate management of their applications across any cloud or platform - including production data centres, private clouds and public clouds.
Learn more about AMP for Financial Services.
Cloudsoft AMP helps business leaders and technology teams cut through the complexity of their estate and ensure it is observable, reliable and agile.
Download our short guide to AMP for Financial Services to cut through the complexity of your estate and ensure it is compliant.