UPDATE – In response to the reluctance of financial institutions to adopt cloud storage, vendors such as Microsoft and HP have announced that they are building “hybrid” clouds. These new models are designed to allow institutions to simultaneously store and process certain data in the cloud, while a portion of the processing or storage is done […]
7 Cloud Vendor Deal Breakers for Financial Institutions
With all the recent focus on vendor management in general, and cloud vendors in particular, there has been a lot of discussion about changing regulatory requirements and best practices. For the most part, cloud vendors must adhere to the same due diligence, contract, and monitoring guidelines as any other vendor However there are a few […]
Risk Assessing iCloud (and other online backups) – UPDATE 2, DropBox
Update 2 (8/2012) – Cloud-based storage vendor DropBox confirmed recently that a stolen employee password led to the theft of a “project document” that contained user e-mail addresses. Those addresses were then used to SPAM DropBox users. The password itself was not stolen directly from the DropBox site, but from another site the employee used. […]
FFIEC issues Cloud Computing Guidance
Actually the document is classified as “for informational purposes only”, which is to say that it is not a change or update to any specific Handbook and presumably does not carry the weight of regulatory guidance. However, it is worth a read by all financial institutions outsourcing services because it provides reinforcement for, and references […]