COCC’s 2023 Milestone in Disaster Recovery Testing
Disaster Recovery (DR) tests are critical in the banking and fintech industries, as they ensure continuity and reliability of services in the face of potential disruptions. These tests simulate various disaster scenarios to evaluate the effectiveness of backup systems and recovery procedures. For financial institutions, effective DR measures are crucial for maintaining access to their financial data and services, thus protecting them from the consequences of unexpected system failures.
On October 4, 2023, COCC significantly enhanced its disaster recovery capabilities by executing its largest annual test to date. This extensive operation, involving over 200 staff members, marked a new level of client engagement with 139 participants—a notable 35% increase from the previous year. The inclusion of eight new clients in this exercise underscored COCC’s commitment to continuously fortifying their systems against potential disruptions.
Unprecedented Scale and Success
During this extensive exercise, COCC tested a record number of applications and connections. This rigorous verification process focused on successfully restoring key platforms, including INSIGHT, Oracle Financials, iBanking, and several other widely-utilized COCC-hosted applications. Over the course of the test, more than 100 applications and connections were tested, all of which proved to be successful.
A pivotal aspect of the test was COCC’s successful execution of overnight production for all 154 core clients from their disaster recovery site, demonstrating their exceptional processing capabilities. Additionally, 128 clients effectively utilized the digital banking platform, further highlighting COCC’s operational proficiency. All recovery time objectives, which are crucial in measuring the efficiency and effectiveness of disaster recovery processes, were met during this test. This achievement highlights COCC’s capacity for not only anticipating but also efficiently responding to potential disruptions.
COCC’s dedication to continuous improvement is evident in their approach to these annual tests, with each year bringing enhancements in methodology. Looking ahead, COCC aims to elevate their disaster recovery capabilities further by increasing the number of applications and connections validated during these exercises. The 2023 disaster recovery test represents more than a routine procedure; it’s a testament to their unwavering commitment to providing secure and reliable financial technology solutions. This exercise reassures their clients and challenges the industry, accentuating the importance of preparedness and resilience in an increasingly digitalized world. As COCC continues to advance and refine their disaster recovery strategies, they set an industry benchmark for others in the fintech sector to emulate.
As an industry-leading fintech provider, COCC delivers innovative, comprehensive technology solutions and strategic partnerships with an unparalleled focus on service. Offering a robust, feature-rich suite of modern, standards-based core and digital banking solutions, COCC’s cutting-edge systems are designed with intuitive user interfaces and are fortified by advanced APIs which seamlessly facilitate leading fintech integrations. Consistently ready to adopt and embrace emerging technologies, COCC remains agile and forward-thinking, meeting the demands of a rapidly evolving financial landscape where live real-time functionality matters. COCC is forever dedicated to assisting community banks and credit unions with remaining strong and competitive by providing the technology, support, and expertise needed to succeed. To learn more, visit www.cocc.com.