Pub. 11 2016-2017 Issue 4

November/December 2016 25 Extraordinary Service for Extraordinary Members. You, the customer, have a right to know who has access to your data. Make sure a validation process exists for anyone who may be able to access your data. Make sure the data is in a place that not only enables your bank to be in regulatory compliance, but also makes you comfortable. Know whether your data is on premises or not. It may be housed in the local IT shop’s building next door. This knowledge is critical, especially if you are preparing to migrate data offsite. Where will your data be going? IT shops and datacenters are located in every corner of the world. Make sure the corner where your data is located is a place with which you are comfortable. For security purposes, your options may be limited; make sure you are compliant and comfortable. In today’s world, Disaster Recovery as a Service (DRaaS) is a hot item on the list of offerings, making the location of your data ever so important. Most IT vendors will provide you a disaster recovery plan and a backup of your data. So, where exactly is your data going, and how quickly can it be recov- ered if you need a copy? How fast can your data be available following a disaster? Most importantly, if you decide to part ways with the IT company, how will your data be destroyed? When the contract has ended, you will want 100 percent as- surance that the vendor no longer has a copy of or access to any of your data. Ask for a certificate of destruction and the vendor’s data destruction policy for proof! Information technology services have been around as long as IT itself, and they will continue to evolve. Like any important IT decision, you must weigh the pros and cons and decide if cloud computing is the right decision for you and your bank. As a dedicated IT person as well as the team lead for one of the largest IT services companies in the world, I personally have seen both sides of the issue. Should you decide to journey into the cloud and utilize cloud computing, make sure to position your financial institution for change, if necessary. Today’s IT world has unfortunately become a game of chess: The moves you make today can positively or negatively impact your bank’s future. Be sure to give your decisions the time they deserve to get your bank headed in the right direction.  Cole Holloway is assistant vice president and information technology director for Midwest Independent Bank (MIB). You can reach him at (573) 556-1435 or cholloway@mibanc.com.