The London Internet Exchange (LINX), one of the world’s leading Internet Exchange Point (IXP) operators, has become a member of TheCityUK, a member-led industry body championing UK-based financial and related professional services.
The financial and related professional services industry contributes over 12 per cent of the UK’s total economic output and employs almost 2.5 million people, requiring strong connectivity and network resilience to optimise performance and uptime across the sector.
However, over the past two years, major banks and building societies experienced over 33 days of unplanned outages. This downtime was the result of 158 incidents spanning 800 hours.
As a member of TheCityUK, LINX will collaborate with networks in fintech, banking and other financial sectors, have the opportunity to shape policy within the industry, and access analysis and guidance for enterprise business planning.
Terence Carr, Business Advisor at LINX, said:
“Becoming a member of TheCityUK is an exciting step for LINX, connecting us with the UK’s thriving financial services sector to promote the importance of network resilience. Financial institutions hold vast volumes of sensitive data, making uptime a hugely important requirement for their networks. If data is leaked or systems go down at the wrong moment, there can be severe financial and legal consequences.”
“Our interconnection services provide a more controlled way of exchanging online traffic, and for the financial sector, being able to monitor the route of your data from A to B is important. We are also finding our dual network fabric set up in London is assisting our current members from this sector remain resilient, providing an alternative traffic route to help important systems stay online in the event of an outage.”
LINX recently achieved recertification for the Financial Services Qualification System (FSQS) registered mark, reflecting its commitment to meeting industry standards and demonstrating robust credentials within the financial services sector.
The Internet Exchange Point supports a growing number of networks across the financial services industry, providing secure, high-performance interconnection solutions and helping networks to maintain uptime with increased resilience and redundancy controls.
Find out more about how LINX support networks within the finance industry