# Veeam Participates as ‘Availability Solutions Partner’ at MEFTECH 2017 in Abu Dhabi
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2017-03-15
Category: NEWS
Category URL: https://financedigest.com/category/news
Meta Title: Veeam at MEFTECH: Ensuring 24.7.365 Availability for
Meta Description: Learn how Veeam is addressing data integrity, regulatory compliance and customer expectations in the financial sector. Find out more!
URL: https://financedigest.com/veeam-participates-as-availability-solutions-partner-at-meftech-2017-in-abu-dhabihtml

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[Veeam® Software](https://wpyadmin.ne.cision.com/l/yiewgnvu/www.veeam.com) **today announced** that it is participating as ‘Availability Solutions Partner’ at [MEFTECH](http://media.ne.cision.com/l/yiewgnvu/meftech.ae), the largest and most prestigious event that convenes the entire financial technology community from across the Middle East and North Africa (MENA) region. The company will use the event as a platform to demonstrate its latest innovations that ensure 24.7.365 availability for the ‘Always-On’ enterprise.

Discussing Veeam’s participation at the event, Mr. Gregg Petersen, Regional Director, Middle East and Africa at Veeam Software says, “Financial Services organizations face increasing pressure to comply with rapidly evolving regulatory requirements for data integrity and security. In addition, valuable [stored data](https://www.financedigest.com/exclusive-tiktok-nears-deal-with-oracle-to-store-its-data-sources.html "Exclusive-TikTok nears deal with Oracle to store its data-sources") continues to grow at exponential rates. Meanwhile, customers [expect around-the-clock access to their account information](https://www.financedigest.com/the-cardiovascular-information-systems-market-is-expected-to-grow-on-a-persistent-note-in-the-future.html "The Cardiovascular Information Systems Market is expected to grow on a persistent note in the future") from their computers and mobile devices. In fact, many banks have [developed customized mobile](https://www.financedigest.com/sony-to-buy-mobile-game-developer-in-push-beyond-consoles.html "Sony to buy mobile game developer in push beyond consoles") applications that enable 24/7 account transactions, including deposits and transfers of funds. Considering the highly sensitive nature of financial information, the effects of lost or compromised data can be detrimental for firms, investors and customers. In fact as per the [Veeam Availability Report 2016](https://wpyadmin.ne.cision.com/l/yiewgnvu/go.veeam.com/2016-availability-report.html), the average per hour cost of data loss resulting from downtime for a mission-critical application is just under $90,000.”

“Banks and insurance companies need to deploy availability solutions that meet regulatory requirements, enable high-speed data recovery, [avoid data](https://www.financedigest.com/the-race-to-avoid-data-dinosaur-extinction.html "THE RACE TO AVOID DATA DINOSAUR EXTINCTION") loss, verify the recoverability of enterprise data and provide complete visibility into enterprise backup infrastructure. Financial services [firms](https://www.financedigest.com/prioritising-employee-wellbeing-in-finance-firms-through-learning-and-development.html "Prioritising employee wellbeing in finance firms through learning and development") will lose customers if there are any doubts about the security or reliability of account information. Enabling an always-on enterprise is critical.”

Veeam intends to highlight to conference attendees the fact that ‘Availability’ is central to [digital transformation](https://www.financedigest.com/the-root-of-all-good-sustainabilitys-role-in-digital-transformation.html "The Root of All Good: Sustainability’s role in Digital Transformation").

“The modern enterprise needs to be anchored with key [technologies provided by virtualization, modern storage systems and cloud technologies in order to be fully transformative](https://www.financedigest.com/how-distributed-ledger-technologies-are-transforming-esg-reporting-for-financial-intermediaries.html "How Distributed Ledger Technologies are transforming ESG reporting for Financial Intermediaries"). What is critical is that availability is at the forefront of the [digital transformation strategy](https://www.financedigest.com/can-ai-supercharge-your-banks-digital-transformation-strategy.html "Can AI supercharge your bank’s digital transformation strategy?"), so that when applications and workloads are being moved across different infrastructures, there’s a backup and disaster recovery plan in place to ensure that downtime is not an issue,” concludes Mr. Petersen.


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