Thursday, September 13, 2018

Episode 6 of the FRT podcast looks at Cloud technology, examining the benefits and risks, but also the risks for banks and insurers that do not implement Cloud, and who are left to carry a greater technical risk in supporting older infrastructures, as well as business risk in their ability to keep pace with customers’ expectations.

In line with the series of 3 papers that the IIF is currently producing on Cloud in the Financial Services sector, we also look at the various regulatory and non-regulatory barriers to adoption, particularly some the cross-border inconsistencies that arise. There is a need for existing and new regulatory frameworks, and for those frameworks to co-exist, as part of a shared journey for industry and regulators in implementing this new technology.

We also examine the role of Cloud Service Providers (CSPs), and the visionary suggestion of Monetary Authority of Singapore (MAS) Managing Director Ravi Menon for how these critical infrastructures may be supervised in the future.

IIF Authors

Brad Carr

Brad
Carr
Senior Director, Digital Finance Regulation and Policy
+1-202-857-3648
bcarr@iif.com

Daniel Pujazon

Daniel
Pujazon
Policy Advisor
+1 202 857-3644
dpujazon@iif.com

Jaime Vazquez

Jaime
Vazquez
Policy Advisor
202-857-3327
jvazquez@iif.com

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