Whether or not you've made the move to the cloud, you need the reliable backup and restoration systems in place. If your data includes personally identifiable information, make sure this includes the right encrypted backup solution to ensure that your don't run afoul of the ever-strengthening data protection laws.
Laws are tightening
Financial and healthcare institutions are already subject to stringent data protection regulations like HIPAA, Sarbanes-Oxley, and the Gramm-Leach-Bliley Act as well as SEC, NASD, NYSE requirements. In addition, the majority of states have already enacted data protection laws that apply to any company storing personal information, regardless of industry.