Oncore IT, which provides IT managed services and cloud-based solutions, has signed a three-year contract with London & Capital, the UK-based wealth management firm.

The contract involves supplying London & Capital with a public cloud-based backup solution to maximise data security and enhance its backup processes and procedures. Oncore IT is supplying 3 TB of online backup on its Asigra-based Cloud storage platform, with London & Capital moving away from a legacy tape solution which was managed in-house for core company data, the firms said in a statement.

“Shifting to a third party to manage our backup and restore systems reduces the management, IT and cost overhead on our business. Expenditure becomes operational rather than capital, and we commit to an established and compliant backup and restoration solution managed by a specialist,” Glenn Murphy, London & Capital’s head of IT, said.

London & Capital manages around $3.3 billion for clients and employs about 90 staff.  

A specific secure London & Capital "vault" has been created on Oncore IT’s storage platform with data from its core applications loaded into it, such as trade order and portfolio management systems.

To establish the data updates, just one Asigra monitoring client – a DS Agent – was installed in London & Capital’s environment to collect data from its servers. This, the firms say, simplifies the rollout process.

Data is held in Oncore IT’s London data centre and replicated to its offshore facility for resilience.