Building resilience is essential to digital transformation: DTCC

The Depository Trust & Clearing Corporation (DTCC), which provides post-trade market infrastructure for the global markets, has outlined enhanced resilience measures that financial firms should consider adopting to ensure the continued safety of financial markets amid an increasingly complex technology landscape.

Neelesh Prabhu, MD & Chief Technology Architect, DTCC, said: “Technology resilience has become an increasing area of focus for financial services firms all over the world, in Asia and beyond. The global financial services industry is experiencing a rapid introduction of new technologies that will bring new capabilities as well as potential new risks. The resilience principles outlined in our latest white paper are useful for any firm that actively develops and deploys software and services within their organisation, no matter where they’re located.”

DTCC is no stranger to strict recovery and resumption methods across services to enhance its resilience. The company has developed a resilience framework to prepare for a vast array of scenarios, including cyberattacks, natural disasters, and pandemics.

A new white paper, which builds upon measures first outlined in the firm’s 2019 report, Resilience First, notes that the twin dynamics of firms moving their infrastructures to virtual environments including the cloud, and adopting new and innovative technologies at a rapid pace, can introduce new types of risk. This evolution has reinforced the need for firms to ensure that resilience practices are embedded into technology development initiatives, including the delivery of their applications and the continued modernisation of infrastructure.

The The Power of Technology Resilience: A Framework for the Industry white paper details four resilience principles that should be considered during the development of all software, services, and components, including:

- Plan: Firms should define the criteria to help support the delivery of resilient solutions in a repeatable and standardised manner.

- Build: Firms should employ common architectural patterns that can be leveraged by all teams to help deliver repeatable, resilient solutions. Firms should also conduct failure mode analysis (FMA) to investigate the technical design of an application, and to identify any failure points in the system.

- Test: DTCC recommends a robust testing framework that leverages automation to confirm applications are consistently tested against resilience principles. Firms should leverage chaos engineering to experiment on a system’s ability to withstand turbulent conditions, including hardware failure or an unexpected surge in volume.

- Operate: Firms should consider enhancing their operational processes, which might include adopting dynamic alerting and monitoring practices that empower their engineers to rapidly respond to environmental failures by shifting workloads to an alternate data centre. Additionally, firms should reimagine traditional, monolithic resilience exercises and adopt a model that enables a more continuous state of readiness for disaster events.

“There is no one-and-done approach to resilience,” said Lynn Bishop, MD and CIO at DTCC. “We believe we’ve laid the foundation for a solid and robust framework for ensuring technology resilience, but we intend to continue working with our clients and stakeholders to refine our approach and continue evolving.”

As described in the paper, firms should also design their applications to both detect and recover from possible failures, using automation where possible. Applications should be designed to operate independently of each other, to help isolate and contain any potential failures.

“When it comes to any firm’s resilience journey, it’s important to remember that you don’t have to go it alone,” said Prabhu.

“Industry collaboration is a key enabler of continued progress in this area. In support of this, we remain committed to sharing our experiences and best practices to help firms collectively safeguard the entire financial services industry.”

Comments

Post a Comment

Popular posts from this blog

Fortinet enhances FortiRecon to align with CTEM framework

Fortinet, the global cybersecurity provider driving the convergence of networking and security, has turned the FortiRecon platform into a comprehensive solution aligned with the continuous threat exposure management (CTEM) framework. The latest release introduces expanded internal attack surface monitoring, adversary-centric dark web intelligence, and security orchestration, all in a unified platform. These enhancements help organisations proactively identify and prioritise real-world exposures, validate risks like an attacker would, and accelerate response. “CISOs and security teams are overwhelmed by growing attack surfaces and an endless stream of unprioritised alerts,” said Nirav Shah, Senior VP of Products and Solutions at Fortinet. “With the latest enhancements to FortiRecon , we’re giving organisations an attacker’s eye view of their internal and external exposures, backed by AI-powered threat intelligence from FortiGuard Labs, real-world validation, and automated response...
Read more

SentinelOne recognised as a 2025 Gartner Peer Insights Customers’ Choice for XDR

SentinelOne, a global provider of AI-powered security, has been named a Customers’ Choice in the 2025 Gartner Peer Insights ‘Voice of the Customer’ for Extended Detection and Response (XDR) report* – one of only two companies with this distinction. A hundred and forty-four users reviewed SentinelOne's Singularity Platform, and 97% said they would recommend the solution to respond to threats across endpoints with AI-powered security, while 97% rated the solution four stars or better.** “With the growing complexity of cyberthreats, organisations need more than siloed security—they need AI-powered, autonomous protection that delivers real-time detection and response across their entire attack surface. Customers have made it clear that SentinelOne’s XDR provides the intelligence, automation, and efficiency they need to stay ahead of threats and secure their environments with confidence,” said Ely Kahn, VP, Product Management, SentinelOne. Gartner defines extended detection and ...
Read more

AWS: AI adoption grows 20% in Singapore

Image
Amazon Web Services (AWS), an Amazon.com company, has found* that AI adoption continues to accelerate in Singapore. In the past year alone, 27,000 1 Singapore businesses adopted AI for the first time—equivalent to over three new adopters every hour. In sum, nearly 170,000 (48%) of businesses in Singapore have adopted AI 2 , up from approximately 143,000 (40%) a year ago. This represents a 20% year-over-year growth rate, AWS said. AI adoption is the strongest in the financial services industry (71%), followed by the technology sector ( software developers, data analytics firms, cloud service providers, and digital startups) at 70%, and healthcare at 63%. Among Singapore’s businesses that have adopted AI, 82% reported an increase in revenue, at an average increase of 19%, while 90% report significant productivity improvements. A large majority (85%) of those who have adopted AI say the technology is likely to increase their growth in the next year, and 89% expect an average of 17%...
Read more