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London & Capital ripped out its tape backups and put all of its data in the cloud

London & Capital ripped out its tape backups and put all of its data in the cloud

Wealth management firm London & Capital has overhauled its data backup systems, replacing its on premise tape-based backup with a cloud-based alternative – saving the London-based firm an estimated £80,000 per year in the process.

In the financial services sector obligations to ensure the resiliency and security of IT systems and data remain sacrosanct. So it’s noteworthy when, despite all of the concern surrounding security in the cloud, one of these institutions migrates all of its backed up data a public cloud-based backup platform.

“In my opinion, to not challenge the status quo is wrong,” said London & Capital’s chief information officer Glenn Murphy. “Our project shows that you can mitigate a three-fold increase in backup data without a three-fold increase in costs.”

The firm partnered with IT systems integrator and consultancy OncoreIT, which helped London & Capital implement an Asigra-based block storage backup platform on OncoreIT’s public cloud (based on Hitachi Data Systems’ blade, compute, and storage equipment).

The company initially used 3TB of online backup but grew that to 9TB within a year, which it said was driven by the demands of the Financial Conduct Authority (FCA) to backup more and more of its data.

According to London & Capital the resulting IT savings in terms of both cost and complexity have been substantial. The firm saved £45,000 in annual salary costs and an added £35,000 on physical hardware that it no longer has to procure or manage.

It also shaved about 25 per cent off the time it takes to back up the company’s data, and all of the logging and reporting is now automated.

“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,” Murphy  said. “That’s what we’ve done and we have achieved great results technically and commercially for the business.”