Aiven ANZ solution architect Michael Coates explains what prudential standard CPS 230 is about, what it means for APRA-regulated entities, and how Aiven can help companies ensure their data is safe from single-supplier failure risk to give you continued operations during periods of risk and disruption.
With COVID, cyber and technology risk, geopolitical unrest, compliance failures, and more, Governments worldwide have increasingly stipulated financial industries must be capable of continuing to operate during disruptive events, to ensure people and companies are protected, able to access funds, and have confidence their money is safe.
Legislation is being tightened for APRA-regulated financial services industries, with CPS 230 coming into play from 1 July 2025. This ensures these industries are resilient and capable of responding to risk events, and continue to provide services during that risk event. And a big part of making this happen is managing your business data in a way that allows you to avoid vendor lock-in and single supplier lock-in, while still retaining security and data sovereignty.
Michael spoke to iTWireTV to take what might otherwise be a complex and dry topic and distil it down into easily understandable concepts. Aiven's platform can help entities control failures, ensure business continuity, remove reliance on single service providers, and hence eliminate single-supplier failure.
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The “secret sauce” that Aiven delivers is in the management of the solution. Aiven provides best-in-class experienced open-source solutions to address operational and governance needs so that financial services can stay focused on their core competencies, while Aiven handles the day-to-day services and management of their infrastructure.
In our talk, Michael also provides a demo showing first-hand how simple it is to set up and manage different cloud data technologies on its platform that creates a fully-featured, fully-managed data infrastructure in only minutes.
Australian businesses - and others around the world - should certainly take note, and hear what Michael has to say. It's a really interesting discussion, and Michael makes it very easy to understand and demonstrates clearly why Aiven is worth taking note of.
During the talk, Michael refers to an IDC paper on the business value of Aiven data cloud solutions, as well as a case study showing 70% operational cost savings.
See it here: