Many RIAs have continuity plans in place in the event of a major technology disruption. But how many are also prepared to cope with more commonplace snafus?
Tech glitches that cause short-term downtime are more likely to interrupt the flow of daily operations than catastrophic events. A recent report by KPMG found that 35% of the IT failures reported in the financial services industry are related to availability — that is, a service or system was down when needed. Another 28% involved technology that failed to behave as it should.
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