Commvault and Pure Storage Launch Joint Cyber Readiness Solution for Financial Institutions

In an era where cyber threats loom larger than ever, financial institutions are under increasing pressure to bolster their defenses against potential attacks. Recognizing this urgent need, Commvault and Pure Storage have unveiled a groundbreaking joint cyber readiness solution designed to help these organizations comply with new regulatory requirements, particularly the European Union’s Digital Operational Resilience Act (DORA). Set to be implemented in January 2025, DORA aims to create a robust framework that ensures financial entities can effectively manage unexpected incidents and recover swiftly.

Understanding DORA: A New Era of Cyber Resilience

DORA introduces a comprehensive set of guidelines that mandates financial institutions, including global banks, to enhance their cyber resiliency practices. The regulation emphasizes the importance of risk management and operational resilience testing, requiring organizations to report on their preparedness for cyber incidents. This includes not only the ability to respond to attacks but also to demonstrate proactive measures in protecting sensitive data.

The Commvault and Pure Storage Solution: A Comprehensive Approach

To address the challenges posed by DORA, the joint solution from Commvault and Pure Storage offers an integrated platform that secures customer data against a myriad of cyber threats, including ransomware and other malicious attacks. By combining Commvault’s robust data protection capabilities with Pure Storage’s advanced platform features, the solution provides a holistic approach to cyber readiness.

Key Elements of Risk Management in DORA

DORA outlines several critical components of risk management, including protection and prevention, detection, and response and recovery. The Commvault and Pure Storage solution effectively addresses each of these areas through a range of innovative features.

Protection: Implementing Zero-Trust Principles

At the core of the solution’s protection strategy is the adoption of zero-trust principles. This approach incorporates advanced authentication methods, storage encryption, and compliance locks to safeguard backup data. Additionally, the solution leverages Pure SafeMode Snapshots and S3 Object Locking on the Pure Storage Platform, ensuring that data remains immutable and secure against unauthorized alterations.

Detection: Advanced Threat Identification

In the realm of detection, Commvault provides powerful tools designed to identify and mitigate risks. The solution employs AI-assisted anomaly detection and cyber deception technology, which utilizes decoy devices to lure potential threats. This proactive strategy not only helps in early threat identification but also facilitates swift responses, thereby minimizing the impact of cyber incidents.

Response and Recovery: Rapid Restoration of Critical Systems

When it comes to response and recovery, the solution harnesses storage-based snapshots from the Pure Storage Platform, integrated with Pure SafeMode. This combination ensures that critical systems, especially those with stringent recovery objectives like payment systems, can be restored rapidly in the event of an attack. The ability to recover quickly is essential for maintaining operational continuity and customer trust.

Enhancing Cyber Resilience Through Continuous Testing

One of the standout features of the Commvault and Pure Storage solution is its support for continuous testing of cyber recovery in secure, isolated environments. This capability allows organizations to conduct on-demand testing within cloud-isolated settings using Commvault’s Cleanroom Recovery solution or through isolated recovery environments. Such flexibility is crucial for meeting data sovereignty and operational demands, ensuring that organizations are always prepared for potential breaches or outages.

Compliance Beyond DORA: A Broader Framework

While DORA is a significant focus, the joint solution also aids compliance with other regulatory frameworks, such as the EU’s NIS2 Directive and the Reserve Bank of India’s e-mandates for recurring transactions. This versatility makes the solution an invaluable asset for financial institutions navigating a complex regulatory landscape.

Expert Insights: Leaders Weigh In

Alan Atkinson, Chief Partner Officer at Commvault, emphasized the importance of the collaboration, stating, "Commvault and Pure Storage are delivering a globally scalable solution for digital operational resilience. Whether organizations are trying to comply with DORA or the multitude of new regulatory compliance requirements, we combine exceptional detection, forensics, and reporting capabilities with immutable and rapidly recoverable snapshots in one comprehensive solution."

Patrick Smith, Field CTO, EMEA, at Pure Storage, echoed this sentiment, highlighting the ongoing threats faced by the financial sector. "The financial sector is under constant threat of cyberattacks that have the ability to undermine economies and consumer confidence. At the same time, cyber regulations are putting stretched IT and security teams to the test. Through our partnership with Commvault, we are giving financial institutions critical tools that not only help comply with regulations like DORA but advance their cyber resilience to help ensure enterprise data remains secure, protected, and if necessary, recoverable."

Conclusion: A Step Towards Enhanced Cyber Resilience

The joint cyber readiness solution from Commvault and Pure Storage represents a significant advancement in the fight against cyber threats facing financial institutions. By addressing the key elements of DORA and providing a comprehensive platform for data protection, detection, and recovery, this collaboration empowers organizations to not only comply with regulatory requirements but also to enhance their overall cyber resilience. As the landscape of cyber threats continues to evolve, solutions like this will be crucial in safeguarding sensitive data and maintaining the trust of customers and stakeholders alike.