Microsoft has launched a new tamper-proof storage service called Azure Immutable Blob Storage, targeted primarily at financial organizations.
The Immutable Blob Storage can be called an updated version of the existing object storage with several security features. Microsoft said that its new service stores data in an environment which doesn’t allow anyone to delete or rewrite the records.
This service will be a boon for banks and other financial institutions which need to prove the validity of their records during audits.
“Financial services customers, representing one of the most heavily regulated industries in the world, are subject to complex requirements like the retention of financial transactions and related communication in a non-erasable and non-modifiable state. These strict requirements help to provide effective legal and forensic surveillance of market conduct,” wrote Alan Ross, Senior Director, Financial Services Industry, in a blog post.
Azure Immutable Blob Storage will allow organizations to develop their own applications while remaining compliant. It is an industry-leading compliance storage service, which comes with Write Once Read Many (WORM) policies. Further, these policies will be applicable to all the tiers of storage.
Built on top of Azure storage, the new service will be available at no additional cost. “Software providers and partners can now rely on Azure as a one-stop shop cloud solution for records retention and immutable storage with sensitive workloads,” said Microsoft.
The tech giant has retained independent assessment firm Cohasset Associates for document compliance, so that Immutable Blob Storage can meet the specific compliance requirements of financial services industry.
“Cohasset validated that Azure Immutable Blob Storage, when used to retain time-based Blobs in a WORM state, meets the relevant storage requirements of CFTC Rule 1.31(c)-(d), FINRA Rule 4511, and SEC Rule 17a-4. Microsoft targeted this set of rules, as they represent the most prescriptive guidance globally for records retention for financial institutions,” explained Microsoft.
Azure Immutable Blob Storage is now available in public preview.