Xtravirt and Runecast Collaborate to Bolster Operational Resilience in the Financial Services Industry

London, 6 November 2023 — Xtravirt, a leading cloud consulting and managed services business, and Runecast Solutions, a prominent provider of continuous compliance automation for multi-cloud environments, are excited to announce a partnership aimed at enhancing operational resilience for the financial services industry and associated financial institutions. The collaboration is centred around continuous compliance monitoring to address the European Union Digital Operational Resilience Act (DORA), a pivotal regulation in the financial domain which will come into full force in the EU in January 2025.

Addressing the Critical Need for Resilience

In today’s rapidly evolving digital landscape, operational resiliency has become a critical cornerstone for financial institutions, necessitating robust and intelligent solutions. Runecast’s innovative compliance monitoring system is specifically tailored to assist organisations in seamlessly meeting the stringent requirements of DORA. It not only validates an organisation’s compliance, but also identifies gaps, allowing them to address and achieve a state of continuous compliance. Additionally, with Xtravirt’s expert consultancy and managed services to prioritise those gaps and assist in closing them, organisations have a holistic ready-to-go solution for VMware technologies that ensures regulatory compliance.

Empowering Financial Institutions

The collaboration between Xtravirt and Runecast empowers financial institutions to establish resilient operational environments. These environments are vital for maintaining business continuity, safeguarding sensitive data, and ensuring optimal service delivery. The synergy between Runecast’s continuous compliance monitoring and Xtravirt’s unparalleled multi-cloud services creates an ecosystem where financial institutions can thrive with augmented security, compliance, and operational agility.

Stanimir Markov, Runecast CEO, explains:

“Runecast’s commitment to providing continuous compliance monitoring for DORA reflects our vision for a comprehensively compliant and resilient financial services industry. Our partnership with Xtravirt marks a significant step towards realising this vision, offering financial entities and connected service delivery partners an advanced solution to ensure uninterrupted service delivery, even in the face of unforeseen challenges.”

Managing Risk and Compliance

In an age where industries face changing regulations, and the risk of non-compliance can lead to hefty penalties and reputational setbacks, navigating a modern digital infrastructure can be challenging. Xtravirt offers Managed Services and new packaged solutions to help address this.

• • Xtravirt Managed Risk and Compliance, powered by Runecast, offers an independent lens on the current compliance of a customer’s VMware environment. With prioritised recommendations aligned to customer risk appetite and the ability for Xtravirt to implement on a customer’s behalf, this service presents a powerful tool for IT executives looking to evidence ongoing compliance with DORA requirements.

• • Xtravirt’s Managed DORA Compliance with Managed Hosted Cloud, leveraging the Runecast platform, offers a comprehensive view of a cloud infrastructure’s alignment with DORA regulations and other industry benchmarks. The solution provides in-depth insights, identifies potential areas of risk, and offers strategies for maintaining consistent compliance. It gives businesses the confidence that they can entrust the day-to-day management of the VMware Cloud on AWS environment to Xtravirt, ensuring proactive compliance management.

• • Xtravirt’s Managed DORA Compliance with Managed Ransomware Protection, powered by Runecast, combines two essential pillars in modern IT infrastructure: cybersecurity against ransomware threats, and stringent compliance with the DORA regulations. Drawing from Xtravirt’s vast expertise in risk assessment, regulatory compliance, infrastructure protection, and cybersecurity, this comprehensive service equips organisations with a robust shield against cyber threats while ensuring adherence to regulatory standards in their VMware Cloud environments.

Robin Gardner, Strategic Services Director at Xtravirt, comments:

“These solutions harness the best-in-class expertise from Runecast and Xtravirt, and demonstrate our commitment to understanding the unique demands of the financial sector. We are here to help organisations navigate the complexities of DORA compliance while enabling them to maintain their primary focus on core financial operations so they can confidently embrace the future, knowing their VMware workloads are compliant, secure, and managed by a trusted partner.”

Will you be at VMware Explore 2023 in Barcelona? You might like the session ‘How to prepare for DORA compliance with VMware and Runecast’ [NSC2457BCNS]