The Financial industry’s requirements for managing and archiving data are unique. Financial institutions continue to encounter an increasing number of global regulations and agencies that mandate differing policies concerning data management, retention and enforcement. As the stringent directives increase, so does the amount and type of data that needs to be retained (archived).
These regulations have created rigid operational mandates with which organizations must comply or risk severe civil or federally imposed penalties. Most have varying controls regarding the type of data to collect, duration of retention, and the methods of encryption. All require that the data be stored unaltered for extended periods. Click on the tab below for a brief overview of some of the regulations encountered within the financial industry.
Financial institutions require digital archiving solutions that offer the highest level of security with the ability to preserve data unaltered. Systems must be capable of adapting to changing regulations, streamlining data management, monitoring and enforcing policies, and accessing data and records on a moment’s notice (immediately).
Most importantly, is the requirement for non-repudiated data. IT departments within the Financial industry that begin to modernize their storage infrastructures will benefit greatly through the implementation of an ASTI data archiving solution. ASTI provides long-term data retention Archiving Solutions for the financial industry that are both cost-effective and more secure than other alternatives. ASTI’s Cloud-Integrated Storage (CiS) approach to tiered data archiving seamlessly combines optical Network Attached Storage (NAS) libraries and Cloud storage.
Additionally, the Encryption feature enables organizations to comply with regulatory mandates and adds an additional layer of data security. ASTI’s data encryption option is FIPS 140-2 compliant with AES 256 bit encryption algorithms.
Financial Industry Requirements and ASTI NAS Solutions
Preserving Data Unaltered – ASTI solutions are based upon true Write-Once-Read-Many (WORM) optical technology. Encrypted data is written to optical media after which it becomes unalterable remaining intact for periods greater than 50 years. The extended media life dramatically reduces media maintenance decreasing the frequency of data migration and reducing costs over the life of the archive.
Encryption – With this optional feature, data at-rest is encrypted with unique keys for each object using FIPS 140-2 compliant AES-256 encryption algorithms.
Transmission Security and Integrity – Within the insurance industry, confidence is extremely important. ASTI NAS solutions integrate seamlessly with existing storage networks presenting as a standard TCP/IP resource with support for CIFS, NFS, and FTP protocols. The server security-administration ensures that it can recognize and approve validated clients.
Flexible Controls – The Archive Management Software offers the flexibility needed for regulatory compliance with powerful policy-based controls. Users can set policies for data migration, manage volumes, and release and migrate files and online/offline media.
User Authentication (person or entity) – Authentication services are supported using Windows Active Directory, Local User Level Security, or LDAP. Additionally, local users can be defined with unique assigned passwords for access to the Archive Appliance.
Device and Media Controls – Accountability – Optical media can be offlined and removed from the library. The Archive Management Software tracks all nearline and offline media by barcode, human readable code, date ejected, pool and archive.
Backup and Recovery – Archive libraries are capable of backing up all critical archive system components which significantly increases the speed of data recovery in the event of system failure. Additionally, multiple copies of media can be created automatically and stored offsite as well as be automatically replicated to a target appliance for high availability.
Disaster Recovery - Optical media provides an affordable disaster recovery option as automatically duplicated media can be removed from libraries and stored off-site. The Replication feature of the Archive Appliance offers the ultimate in disaster recovery protection with duplicate libraries located in different physical locations providing constant availability to data is key to business continuity and high-availability.
Email and Image Archiving – Partnering with industry-leaders, ASTI solutions integrate with third-party software applications that manage and sort content, such as email, documents and images, according to the internal policy guidelines established within that application. The images and email are then stored efficiently and securely on ASTI NAS optical libraries that fit directly into the existing storage network.