The financial services sector is best by ever more high-profile IT failures. These can cause huge disruption and create national headlines. The UK's TSB debacle in the first half of 2018 was a massively embarrassing and costly example.

Everbridge carried out a survey of the financial services sector, alongside Banking Technology and wanted to know from firms around the globe how they do things at present and what they see as their key challenges.

The survey found that the impact of critical IT events (degradation, disruption, interruption, outages) on the IT teams (disruption, distraction, firefighting, unplanned work) over the past few years has increased by 70%.

Everbridge wanted to know how long it took to put in place the necessary cross-function response teams to tackle a critical IT issue, how the stakeholders are identified, how issues are escalated and reported (internally and externally), and whether remediation plans are automated.

The results show there is plenty of room for improvement in most organizations.