In his address, Governor Christian Kettel Thomsen emphasised that the financial sector must act in a new security policy situation. It is not exclusively an economic downturn that banks need to be prepared for.
With the emergence of hybrid threats the financial sector must now also take scenarios into consideration that only recently seemed unrealistic. The financial sector has already achieved a high level of resilience against operational risks, but the new threat landscape requires an additional protective layer.
“Today Danmarks Nationalbank has published new recommendations for an extra safety net for critical customer-facing activities. This includes recommendations for both the banks and the owners of payment solutions and infrastructure. This safety net must be able to be activated independently of the normal systems and backups,” said Christian Kettel Thomsen.
In a crisis situation, the safety net should enable a bank to re-establish critical activities so that customers can still view their account balances, use payment cards, receive salaries, and transfer money – even if normal systems fail. Centralised data collection in a so-called data vault and banks’ decentralised emergency bank platforms are a part of this solution.
(See link to the analysis: "Emergency preparedness for critical financial sector activities in extreme scenarios").
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