The Business Benefits of Business Continuity

Rick Cudworth

While business continuity (BC) has been around for some time within financial services, it continues to evolve and perhaps more rapidly than in the past. It is extending beyond the ability to respond and recover from a relatively narrow range of incidents. Increasingly, it is understood that good BC will not only enhance the speed and efficiency with which the organisation will recover from disruption, but that it also helps to protect and retain customers and respond to change. Recognising the true benefits of BC and creating an environment to deliver these will help better protect and create value for the organisation, as well as advancing the standing of the professionals who work within it.

The political, economic and social environment in which financial organisations operate is constantly changing. In response to the global economic crisis of 2007–08, a number of legislative and regulatory changes have been introduced by governments and regulators alike, which have the aim of improving the resilience of financial markets. In addition, the range of disruptive threats and potential challenges to the financial services industry is broadening. Disruptive risks have come to