Safeguarding Digital Finance: Boost Bank's Approach to Business Continuity Management
[Business Continuity Strategy] [Template 2]
Business Continuity Strategy
Part 2: BCS - Recovery Strategies
Notes for BCM Institute's Course Participants: This is the template for completing the "Part 2: BCS - Recovery Strategies"
CBF 1: Customer Transactions and Payment Processing
Recovery Strategies
The "Recovery Strategies" table is completed during the BC Strategy phase. It serves as a strategic framework for identifying and implementing recovery strategies for Boost Bank Malaysia’s critical business functions, with a focus on Customer Transactions and Payment Processing.
This function is central to the bank’s ability to serve its customers and maintain financial stability, making it a top priority in any recovery scenario.
The table outlines the Recovery Time Objective (RTO), selected recovery strategy, designated recovery location, and supporting details justifying the chosen approach for each critical sub-process.
By establishing clear recovery protocols, the bank can ensure the timely and coordinated restoration of operations while minimising the impact of disruption on customers, regulatory compliance, and brand reputation.
Here is the generated table for the Critical Business Function: Customer Transactions and Payment Processing, with its related sub-processes for Boost Bank Malaysia.
The table follows the structure you've provided and is aligned with the BCM Institute's Mitigation Strategies framework.
|
Critical Business Function |
Critical Business Function Code |
RTO |
Recovery Strategy |
Recovery Location |
Details of Recovery Strategy |
Justification for Selected Recovery Strategy |
|
Customer Transactions and Payment Processing |
1 |
4 Hours |
Hot Site + Cloud Replication |
Tier-3 Data Center (Cyberjaya) + Cloud (AWS MY) |
Use of a hot standby system with real-time data replication. Core transaction systems are mirrored in both the hot site and cloud for rapid switchover. |
Essential for maintaining financial stability and customer trust, high volume and real-time requirements demand minimal downtime. |
|
└ Fund Transfers (Peer-to-Peer and Interbank) |
1.1 |
2 Hours |
Active-Active Setup + DR Site |
Dual Data Centres + BNM Link |
Transfers processed concurrently; integration with BNM (Bank Negara Malaysia) ensures fallback routes. |
High criticality for financial continuity and regulatory compliance; the system must be available 24/7. |
|
└ Bill Payments and Scheduled Payments |
1.2 |
6 Hours |
Cloud Failover + Job Queuing |
Cloud Recovery Region |
Scheduled payments are queued in a cloud-based task scheduler; failover ensures no loss of automation or disruption to customer expectations. |
Moderate urgency, combined with high volume and customer trust, makes recovery within 6 hours essential. |
|
└ Debit Card Transactions (POS and Online) |
1.3 |
4 Hours |
Managed DR Services (PCI-DSS) |
PCI-DSS Compliant DR Provider |
Transaction systems are hosted with a secure, certified provider that offers contractual Service Level Agreements (SLAs) and disaster recovery (DR) facilities. |
Security and compliance with card networks avoid the risk of financial loss and reputational damage. |
|
└ eWallet-to-Bank Transfers (and vice versa) |
1.4 |
4 Hours |
Multi-Cloud Redundancy |
AWS & Azure (Malaysia Region) |
Real-time syncing across multiple cloud providers; automatic routing of requests through healthy zones to ensure continuity. |
High transaction dependency; redundancy ensures that interconnectivity with banks is never lost. |
|
└ Merchant Payments (QR Code and Online Checkout) |
1.5 |
2 Hours |
Active-Active Processing |
Onshore & Offshore Data Centres |
Real-time payment processing in dual locations, with each location supporting the full payment load. |
Crucial for the retail ecosystem and business clients; even short downtimes affect merchant trust. |
|
└ Dispute Resolution and Chargebacks |
1.6 |
8 Hours |
Remote Ops + Manual Tracking |
Remote Ops Centre |
Staff can access the chargeback management platform remotely; if the system fails temporarily, they can fall back on manual forms and spreadsheets. |
Lower time sensitivity, but necessary for customer service and regulatory response. Manual options ensure continuity in emergencies. |
Summing Up ...
The Recovery Strategies Table provides a structured and actionable blueprint for restoring essential operations in the event of disruption.
It ensures that Boost Bank Malaysia’s recovery efforts are both targeted and resource-efficient, aligned with business priorities and customer expectations.
By clearly defining the recovery objectives, locations, and rationale, the bank is better equipped to execute timely responses, allocate resources effectively, and reinforce confidence among stakeholders during crises.
This proactive planning ultimately contributes to a resilient and responsive operational environment.
More Information About Business Continuity Management Courses
To learn more about the course and schedule, click the buttons below for the BCM-300 Business Continuity Management Implementer [BCM-3] and the BCM-5000 Business Continuity Management Expert Implementer [BCM-5].
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