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Whitepaper: Financial Regulators View Public Cloud As Outsourcing*.pdf

financial-regulators-view-public-cloud-as-outsourcing.pdf
Preview of Whitepaper: Financial regulators view public cloud as outsourcing*
🔗 Source: paloaltonetworks.com
📊 Size: 224 KB
👤 Author: Lawrence Chin
⬇️ Downloads: 40

Summary

Financial institutions (FIs) initially viewed public cloud with skepticism due to concerns over data privacy, security, and loss of control. However, they have warmed up to it, with 48% of their 2020 IT budgets committed to public cloud. Financial regulators view public cloud as outsourcing, requiring FIs to manage risk and ensure compliance with regulations. Common concerns across regulators include regulatory notice or approval, third-party monitoring, board or senior management involvement, security of data and systems, and data residency. Despite these concerns, FIs see significant benefits in public cloud, including elasticity, scalability, and enhanced analytics capabilities.

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Description

Financial institutions (FIs) initially viewed public cloud with skepticism due to concerns over data privacy, security, and loss of control.

Technical Information

  • File Format: PDF
  • File Size: 224 KB
  • Pages: 3
  • Language: EN
  • Author: Lawrence Chin
  • Total Downloads: 40
  • Last Updated: 2 months ago

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