This report examines cloud adoption and regulation across the Asia-Pacific financial services sector. It explores how regulatory settings can act as a facilitator for cloud adoption, identifies the key emerging regulatory issues under discussion by financial institutions (FIs) and regulators in the region and globally, and provides recommendations to regulators and other stakeholders on actions they can take to help drive cloud adoption in financial services and collaborate for a future-ready financial ecosystem.
The findings and recommendations are informed by interviews with 15 official sector agencies—including central banks, monetary authorities, bank supervisors, and securities regulators—in ten Asia-Pacific economies, together with interviews with IIF member active in cloud in region, and builds on the IIF’s previous work on cloud and digital transformation.
Key findings from the study include:
Key recommendations based on the findings include:
The IIF looks forward to continuing to engage with stakeholders on this topic moving forward, including on the issues for further study identified in the report.