Posted on Tuesday, 15th June 2010 by Emily Smith
First National Bank (FNB) has made a major investment in the security of customer’s accounts by upgrading their banking technology. The bank has implemented CommVault’s Simpana software to consolidate backups, improve recovery time, and reduce redundant data while improving customer service levels.
According to Brian Diegan, First National Bank’s vice president of network services, “By partnering with CommVault, we’ve been able to ensure unsurpassed data protection and security. Simpana software plays an important role in helping us reduce risks, costs, and administrative overhead while elevating our data management to new levels of efficiency.”
Modernizing Data Backup
A major focus of the upgrade is cutting down on redundancy and saving space in the bank’s data backup system. Previously, as with most backup systems, backup tapes were kept at multiple locations. The new system employs virtual technology and has reduced the volume of stored data by 83 to 89 percent with a storage reduction from 41 TBs of data on disk down to 6 TBs of data that are stored on disk.
The cost savings and simplification of data management will be immense. In fact, Diegan has also been quoted as saying “We were able to demonstrate how switching to Simpana software would produce a projected savings of more than $10 million over three years, which helped us get the green light to move forward.”
Compliance with Banking Regulations
First National Bank has an aggressive growth strategy, and another major benefit the financial services corporation expects to gain from its investment in the software is to ensure compliance with its requirements for corporate governance and data retention.
As a diversified financial services company, FNB has to comply with regulations for all of its various service areas which include commercial and retail banking, wealth management, insurance, and loan production offices.
Being able to demonstrate compliance with regulations and to restore access to data quickly in the event of a catastrophic event are two very important features that the new bank technology is designed to address.
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Tags: First National, Security
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