This final paper in the IIF 3-Part series on Cloud focuses specifically on the unique set of challenges associated with Cloud Service Providers (CSPs). In examining CSPs’ interactions with the regulated financial services industry, our new paper explores topics such as of concentration and dependency risk, portability, the lock in effect, and the auditing/monitoring of services. While some challenges are common to all stakeholders, others are subject to more divergent optics, and our analysis considers the perspectives of those different stakeholders.
This paper follows:
• Part 1 (available at https://www.iif.com/publication/regulatory-comment-letter/iif-cloud-computing-paper-part-1), which highlighted the benefits and opportunities in meeting evolving customer expectations, as well as risks, and particularly the risks associated with not moving to cloud; and
• Part 2 (available at https://www.iif.com/Publications/ID/781/IIF-Cloud-Computing-Paper--Part-2-), which examined the hurdles when migrating to cloud, notably some cross-border regulatory inconsistencies and data localization requirements.