TechnologyAccounting SoftwareSolution to financial services Catch 22

Solution to financial services Catch 22

Internet data manager Worldport Communications says it has a solution to a dilemma facing financial services companies - the need for space to store business critical data while weathering the economic downturn.

The solution will see companies that outsource IT services to Worldport having the opportunity to ‘share their storage space with other companies, whilst retaining full control over their information’.

Costs relate to the amount of space used, but at the same time the solution provider says data security is ‘in no way compromised’.

Any data stored with Worldport is protected by fire-walls, anti-virus and anti-hacking services, while the site itself is physically guarded.

In addition, the space is scalable allowing companies the ability to plan for medium and long-term storage needs.

Vice president of sales and marketing Nicholas Jeffery said traditional web-hosting could not cope with the ‘massive demand caused by the increase in stored data’.

He added: ‘The new solution is a highly effective way of meeting their needs in the most cost-effective manner.’ This he said was at a time when financial services firms craved security but were nervous to invest.

Recently AL Digital, the owners of the Bunker, the UK’s prime data security site, acquired a second former Cold War bunker due to escalating demand for secure space against physical attacks.

Related Articles

Sage purchases Intacct in its largest ever acquisition

Accounting Software Sage purchases Intacct in its largest ever acquisition

3m Alia Shoaib, Reporter
5 tips for SMEs to protect cash flow

Accounting Software 5 tips for SMEs to protect cash flow

3m Alia Shoaib, Reporter
UK behind foreign markets in digital accounting, but gap is narrowing

Accounting Software UK behind foreign markets in digital accounting, but gap is narrowing

5m Alia Shoaib, Reporter
Four reasons why SME owners should switch to cloud accounting

Accounting Software Four reasons why SME owners should switch to cloud accounting

7m Emma Smith, Managing Editor
BDO strikes technology partnership with Receipt Bank

Accounting Firms BDO strikes technology partnership with Receipt Bank

7m Emma Smith, Managing Editor
The rise of the progressive accountant

Accounting Software The rise of the progressive accountant

6m Emma Smith, Managing Editor
Making Tax Digital: Revolution or revolt?

Accounting Software Making Tax Digital: Revolution or revolt?

6m Emma Smith, Managing Editor
Making Tax Digital: Is HMRC’s recent system fault a cause for concern?

Accounting Software Making Tax Digital: Is HMRC’s recent system fault a cause for concern?

6m Emma Smith, Managing Editor