Enterprise -> Technology
Released: 5th February 2014
Publisher: Oncore IT
February 5, 2014 – Oncore IT, a Cloud and IT managed services provider, today announced that London & Capital, a leading firm of investment advisers and asset managers, has completed its transition to outsource its onsite legacy tape-based data backup function to a cloud-based solution managed by its specialist team of technical experts and dedicated account managers.
To meet Financial Conduct Authority [FCA] policies and recommendations, Oncore IT has provided a cost effective and scalable public Cloud-based solution – using Asigra technology - to maximise the level of data security, improve resilience and enhance London & Capital’s backup processes and procedures. Today, all London & Capital enterprise data is backed up to the Cloud in what has been a very successful migration project meeting all projects goals, completed ahead of time, and in budget.
Established in 1986, London & Capital is an independently owned wealth management firm with a global team of 90 staff who have around $3.7 billion of discretionary assets under management. Its advisers and asset managers provide a bespoke and tailored service looking after clients who comprise private individuals, institutional investors, intermediaries and charities from around the world.
The project has centred around risk migration given London & Capital is highly regulated and data is crucial to the functioning of the business. A phased approach has been taken with low risk test data first backed up, and then based on the performance of the Asigra solution, the company is shifting to using it as a total enterprise solution. During this switch over, parallel backup runs were done with both tape and online to ensure a safety net in case of any issues.
Paul Cook, Oncore IT’s sales and marketing director, says, “Absolutely no problems were experienced and London & Capital has concluded this ‘belt and braces’ parallel backup process. Since December 2013, all of its business data is now stored online using the Asigra solution.”
Initially 3 TB of online backup was initially taken as part of the Oncore IT delivered service, but this has trebled growing to 9TB within a year, driven by the demands of the FCA to backup and use offsite storage. If London & Capital had not implemented the project, it would have had to treble its internal backup infrastructure which is what it wanted to mitigate against.
Cook says, “The main benefit our clients get from working with us is access to enterprise class Cloud services on-demand. We offer secure services in an OPEX fashion, with commercial contracts that our clients can take advantage of and easily understand.”
London & Capital is using its Asigra-based Cloud backup service to store information covering three main areas:
A secure ‘vault’ has been created on Oncore IT’s Hitachi Data Systems storage platform with data held in its London datacentre and replicated to its offshore facility in Amsterdam for resilience.
To establish the data updates, just one Asigra monitoring client – a DS Agent – was installed in London & Capital’s environment to collect data from its servers. This simplifies rollout and contrasts with other competitive solutions which require agents on each and every server. Asigra’s agentless approach was important as London & Capital didn’t want to add to or complicate its IT footprint at its London headquarters.
Significant and tangible return on investment benefits have been realised, summarised below:
Many companies, especially those in financial services industry, are unsure about the Cloud environment and whether they should move infrastructure and applications to it. With so many different responsibilities and challenges especially around data protection and regulatory compliance – for some – it is a difficult choice to change so they stay put rather than challenge the status quo.
London & Capital’s chief information officer, Glenn Murphy comments, “In my opinion, to not challenge the status quo is wrong. Our project shows that you can mitigate a three-fold increase in backup data without a three-fold increase in costs. 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. That’s what we’ve done and we have achieved great results financially and commercially for the business. A lot of people in other wealth management and banking organisations can leverage this and capitalise on our experience. The challenge for them is just to say ‘yes’.”
To view a brief film of Glenn Murphy talking about the project, please click on the You Tube link http://www.youtube.com/watch?v=ml6akBngqmg
 Based on DLT and LTO technology
 As of Sept 31, 2013
Published by: electronicdawn Ltd.