How to Ensure Resilient Financial Operations During Crises

Uninterrupted access to banking services is critical to maintaining operations during natural disasters, cyberattacks or system failures. Without secure access to funds, payment systems and transaction channels, businesses risk operational paralysis. Include this checklist as part of your business continuity plan (BCP) to ensure access to funds when you need them.

1. Adopt a strong security posture.

   Every organization should have a comprehensive plan to protect its systems, network and data.
   • Train employees to recognize phishing, business email compromise (BEC) and other social engineering tactics.
     
     
   • Store login credentials securely with encrypted password managers for authorized user access.
     
     
   • Implement multifactor authentication (MFA) to verify user identity and protect against unauthorized access.
     
     
   • Implement email authentication protocols such as Sender Policy Framework (SPF), DomainKeys Identified Mail (DKIM) and Domain-based Message Authentication Reporting (DMARC) to secure communications and prevent spoofing.
     
     

2. Maintain digital access and security.

   It’s important to sustain access to data and systems when physical offices are inaccessible.
   • Maintain backup internet access (e.g., mobile hotspots) to ensure connectivity in case of network outages.
     
     
   • Ensure key personnel have secure access to online and mobile banking via a virtual private network (VPN) even when working remotely.
     
     

3. Assign banking roles and responsibilities and document procedures.

   The BCP should include clearly documented procedures for accessing bank services, as well as managing banking tasks during disruptions.
   • Document workflows for accounts payable and accounts receivable, including how to access accounts, initiate and approve payments and how to contact key representatives at your financial institution.
     
     
   • Designate and train backup personnel to oversee essential financial functions if primary staff are unavailable.
     
     
   • Require dual approval for financial transactions to add another layer of oversight and reduce fraud risks.
     
     
   • Set up a call-back verification process to confirm urgent or high-value payment requests, reducing the risk of AI voice scams.
     
     
   • Evaluate and update your procedures regularly to reflect changes in teams, systems, bank services or processes.
     
     
   • Conduct simulations to ensure your team can perform essential banking tasks under pressure.
     
     
   • Review your financial institution’s emergency support services and service-level agreements to understand the assistance available.
     
     

4. Take proactive steps to sustain essential bank services.

   Ensure you have the tools necessary to process payments and receivables, as well as maintain adequate cash flow and liquidity.
   • Set up lockbox services to process receivables even when offices are inaccessible.
     
     
   • Use ACH origination to automate payroll, vendor payments and collections.
     
     
   • Use positive pay to detect inconsistencies and help prevent check and ACH fraud.
     
     
   • Securely deposit checks using remote deposit capture (RDC) from mobile or scanner devices from any location.
     
     
   • Create wire transfer templates to facilitate faster emergency payments to critical vendors.
     
     
   • Establish sweep accounts to prevent overdrafts.

Enhance business continuity with secure banking solutions.

Investments in operational preparedness today will yield significant dividends when business interruptions occur. With the appropriate tools, organizations can securely access bank services and safeguard against fraud while mitigating disruptions. For more details on creating a business continuity plan that ensures continuous banking services during emergencies, simply complete a short form and a Synovus Treasury & Payment Solutions Consultant will contact you. You can also stop by one of our local branches.