When Peoples Bank & Trust’s email system crashed earlier this summer, it turned to a hosted solution to ensure future continuity, and thus triggered an emerging and muddled compliance challenge many banks face.
“The email crash took us down a couple of days. Email is very important to the function of the bank, so we couldn’t take that risk of a crash again,” says Robert Porter, vice president and IT director at the bank, a $275 million-asset community bank based in Hazard, Ky. The bank moved its entire email system to a hosted Safe Systems solution called SafeSysMail. It’s also using an email archiving and encryption service from Safe Systems. For a bank that only has two IT workers, the move to a hosted environment is expected to save about $80,000 over the next three years.
Read the rest of Cloud Computing Compliance Hazy for Banks at American Banker.
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