London & Capital, the investment adviser and asset manager, has outsourced its onsite legacy tape-based data backup function to a cloud-based system managed by Oncore IT.
Now, all London & Capital enterprise data is backed up to the cloud. The more cost-effective and scalable public cloud-based solution - using Asigra technology - meets industry data security and compliance regulations, and has enhanced the firm's back-up processes and procedures.
Established in 1986, London & Capital is an independently owned wealth management firm with a global team of 90 staff who have around $3.7 billion (£2.3 billion) of discretionary assets under management.
During the cloud switchover, parallel backup runs were done online and with tape to ensure a "safety net" in case of any issues.
London & Capital is using its Asigra-based cloud backup service to store information covering three main areas, including transactional data from its portfolio and order management systems, data from core business applications like its CRM system, and all Microsoft Office data including email, word documents, Excel and PowerPoint files.
A secure "vault" has been created on Oncore IT’s Hitachi Data Systems storage platform, with data held in its London data centre and replicated to its offshore facility in Amsterdam for resilience.
London & Capital’s chief information officer Glenn Murphy said: "Our project shows that you can mitigate a three-fold increase in back-up data without a three-fold increase in costs.
"It is all about leveraging the benefits of cloud-based backup, working with the right managed service provider and choosing the right technology solution which in our case was Asigra."
He said: "A lot of people in other wealth management and banking organisations can leverage this and capitalise on our experience."