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Cloud Computing Risk Management Financial Institutions

Pillsbury - Global Sourcing Practice

An Update on Cloud Computing in the Financial Sector

In 2023, we summarized the U.S. Department of Treasury report that raised concerns about the growing reliance of financial institutions (FIs) on cloud computing. Treasury highlighted structural imbalances and regulatory blind...more

Baker Donelson

Critical Guidance for Financial Institutions on Security Considerations for Cloud Computing Environments

Baker Donelson on

On April 30, 2010, the Federal Financial Institutions Council (FFIEC) issued Guidance on the use of cloud computing services and security risk management principles in the financial services sector. The Guidance reminds...more

Morgan Lewis - Tech & Sourcing

FSB Focuses on Financial Institutions’ Dependencies on Cloud

The Financial Stability Board (FSB) published on December 9, 2019, its report on financial institutions’ increasing reliance on third parties to provide cloud computing services (the Report)....more

Pillsbury Winthrop Shaw Pittman LLP

European Businesses Offering Payment Services Told How to Manage Operational and Security Risks

Payment service providers operating in the EU must take note of new risk management requirements from the European Banking Authority. The European Banking Authority’s operational and risk management guidelines apply to all...more

Orrick, Herrington & Sutcliffe LLP

New Guidance for Financial Institution Directors and Officers In Cybersecurity Preparedness

Earlier this summer, the Federal Financial Institutions Examination Council (FFIEC) released its highly anticipated Cybersecurity Assessment Tool (Assessment), which is designed to assist financial institutions in identifying...more

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