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SMBs in the financial services sector face issues with data backup and security

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According to recent research conducted by Acronis, only 39 percent of small to medium-sized businesses in the financial services sector are satisfied with their data backup and disaster recovery operations.

The 2012 Acronis Disaster Recovery Index found 38 percent of respondents at SMBs feel as though they have support from their executives when looking to deploy better means for data storage and disaster recovery.

"The Acronis Disaster Recovery Index shows that financial services organizations are in need of better strategies and training, and more advanced and comprehensive technologies to improve their backup and disaster recovery capabilities, which are currently seriously inadequate," said Seth Goodling, virtualization practice manager at Acronis.

More results from the survey showed that SMBs are looking at other ways to address their issues when it comes to data storage and disaster recovery. Sixty-eight percent of financial services organizations are seeing the complexity of cloud, legacy and other systems as their greatest obstacle to backing up files, while 76 percent are looking for easier, comprehensive ways to back up and store their data.

With the problem being clear that many SMBs are not confident in their disaster recovery and data backup, it is imperative for them to invest in cyber liability insurance, to ensure they are protected in case an issue arises.

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