Status: Draft -- Not PublishedWill be live at 09/13/2018 00:00
FRT Episode 6: Cloud in Financial Services
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 DirectorRavi Menon for how these critical infrastructures may be supervised in the future.