Uptime Institute offers new infrastructure risk assessment for the financial sector

Published: Wednesday, 16 February 2022 08:52

Uptime Institute has announced the launch of its new Standardized, Comprehensive Infrastructure Risk Assessment for Financial Sector Institutions (SCIRA-FSI). SCIRA-FSI is a new professional services offering by the Global Digital Infrastructure Authority, Uptime Institute, that assesses critical IT environments across enterprise data centers / centres, multi-tenant data centers, and public and private clouds, to identify and mitigate physical and operational outage risks.

"Any outage is a painful and expensive incident. However, financial services outages can be extremely costly, and can result in financial penalties and sanctions for noncompliance. In addition to lost revenue, reduced productivity, and customer and investor dissatisfaction, there is the specter of fundamental, if not potentially irreparable reputational damage," said Ali Moinuddin, Managing Director, Europe, Uptime Institute. "Our new SCIRA-FSI program gives FSIs a way to thoroughly assess their entire data center estate and identify and mitigate digital infrastructure outage risk. As regulatory pressure mounts in Europe and beyond, FSIs are compelled to increase their understanding of systemic vulnerabilities, and minimize outage risk to support all critical business services and improve operational resilience."

SCIRA-FSI is based on Uptime Institute’s analysis of over 20 data center and commonly applied financial sector standards, internal assessment protocols shared by its Program Design Partners, common FSI infrastructure risks gathered from Uptime Institute’s Abnormal Incident Report database of 8,000 data points on the root cause of outages, and Uptime Institute’s experience working on over 250 FSI projects across the globe.

Upon completion of a portfolio level SCIRA-FSI program, clients receive a detailed report on the current physical and operational risks of their hybrid digital infrastructure along with actionable recommendations for resolving them. This not only aids FSIs in their efforts to proactively prevent downtime incidents but serves as documentation for regulatory filing requirements to prove that a comprehensive risk management assessment has been completed for infrastructures that support important and critical business services.

More details.