Database Backup System for Banks

Research Paper (postgraduate) from the year 2019 in the subject Business economics - Banking, Stock Exchanges, Insurance, Accounting, , language: English, abstract: This study, Disaster Recovery Database Backup System Model and Banks' Survival, examines the role of effective and efficient database backup system in the life of financial institutions with Zenith Bank Plc as the case study. This study resulted from the fact that 'Zenith Bank' faces a significant amount of responsibility as a new generation private gone public bank. According to experts in IT 'Even if an ATM is down for two hours, it becomes a huge issue and customer complaints start to pour in'. Thus, continuity becomes very crucial in the financial services industries. The general objective of the study is to examine the role of improved disaster recovery database system model in bank survival and business continuity. Zenith Bank is used as a case study because of its success story in terms of Information Technology applications. In carrying out the study quantitative and qualitative method of sample collection were used while questionnaires were distributed to 120 respondents from the 'Bank' and its subsidiary Zenith Medical Centre all in Abuja. Likert-type scale is used to obtain respondents' opinion, while Friedman Chi-square is used as statistical tool to critically analyze the responses. The findings include: banks are database services organization, therefore, need disaster recovery database backup to continue in business in the face of threats and incidents. The conclusion is that Zenith Bank should continue to put in place improved disaster recovery plan in line with global best practices. The recommendation includes; other banks should put effort to have effective and efficient database backup system model in order to prepare for incidents, and the CBN as the regulatory umpire should direct financial institutions in Nigeria to put in place good and reliable disaster recovery database backup system model because 'the shrewd one sees disaster and proceeds to hide himself'. The study suggests that there should be research to identify areas prone to disaster incidents in Nigeria both in physical attacks and cyber attacks.