New York, New Jersey financial sector well prepared for Hurricane Sandy

27.10.2012

According to Marc DeCastro, an analyst with IDC Financial Insights, the impact of a hurricane is always two-fold: The impact to IT systems and business infrastructure; and the human element. What employees should be preparing to work from home or getting hotel rooms near a disaster recovery site, and who should be manning data centers during the storm.

"All those plans are being dusted off and reviewed by executives already and they're being communicated to employees," DeCastro said.

Advancements in mobile technologies will no doubt also play a key role, as they have in the recent past, in keeping communications up during and after the storm, DeCastro said.

"Especially in banking, there are so many electronic channels available. Maybe we don't have electricity, but maybe I can still communicate with my mobile phone," he said. "I can charge off car battery, and if I need to transfer money or make a payment, I can still do it with my mobile device."

"From a systems standpoint, we've had lots of practice," he added. "I think employees will be more involved in personal cleanup initiatives. You're talking 60 million people who are in the path of this storm. There could be a lot of turmoil as far as people thinking 'I need to protect my own property and family.'"