With its delicate ecosystem of assets and data, the banking industry is particularly vulnerable to disruption. In times of crisis, the adoption of innovative solutions becomes paramount.
Pismo has launched its latest whitepaper, “Create banking resilience with multi-region database adoption“. It takes a deep dive into financial institutions’ strategies to ensure their operations remain robust and reliable despite the unexpected.
Mitigating disaster
While operating multiple availability zones (AZ) is a tried-and-true approach for disaster recovery, the whitepaper introduces the concept of multi-region strategies, taking resilience to the next level.
With the ability to minimise latency and achieve on-demand scalability, multi-region strategies offer a comprehensive solution for maintaining operations even when an entire region goes offline.
The paper outlines a multitude of advantages that multi-region strategies bring to the table:
- Disaster Recovery: The banking industry is no stranger to breakdowns and outages. Financial institutions can significantly reduce downtime and revenue losses by being prepared for these disruptions.
- Reduced Latency: Reduced latency is a game-changer for banks serving a global clientele. Replicating data near end-users minimises delays and ensures optimal performance.
- High Availability: Continuity of operations is a top priority. To quantify availability levels, the whitepaper defines metrics like Recovery Time Objective (RTO) and Recovery Point Objective (RPO).
- Application Architecture Flexibility: Multi-region database deployments empower banks to scale their applications easily, distribute databases across different regions, and expand into new markets without extensive code changes.
- Regulatory Compliance: International expansion brings forth complex regulatory challenges. Multi-region databases offer a solution by enabling data storage in specified locations, ensuring compliance with regional standards.
- Reduced Costs: Utilising a single logical database across multiple locations can save costs by reducing the need for asynchronous active/passive systems and excessive administrative burdens.
Choosing a strategy
The whitepaper delves into the intricacies of multi-region architecture, shedding light on active/active and active/passive approaches. It outlines how different strategies align with various data access patterns and operational needs, helping banks decide on the best approach.
Want to discover Pismo’s perspective on multi-region deployment? The paper provides an overview, including our company’s recognition that multi-region architecture isn’t a one-size-fits-all solution.
Multi-region deployment involves various considerations, from understanding the CAP theorem’s implications to identifying active/active alternatives, configuring dependencies, establishing observability, and managing costs. Our paper provides a comprehensive roadmap for financial institutions to navigate these complexities while ensuring a successful deployment.
The whitepaper highlights Pismo’s readiness to deploy and power multi-regional operations using various database solutions. Whether clients opt for Amazon’s AuroraDB or Cockroach Labs’ CockroachDB, Pismo stands ready to provide the expertise needed to ensure a seamless transition and optimal performance.
