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Consulting Services
Cloud
Financial Services
Helping UK banks satisfy regulator demands for the security and resiliency of cloud-based systems.
Sourced can devise an effective cloud strategy that aligns with UK Financial Conduct Authority (FCA) rules.
FCA considers public cloud use a form of outsourcing, and it has strict rules for arrangements of this nature. When banks and other financial services organisations adopt cloud, they must assess risks and put controls in place to foster operational resilience.
Ensuring service delivery can be maintained if the cloud provider fails, or if the organisations part company, is a central aspect of this. Sourced can help with the development of a robust multi-cloud model and a seamless exit strategy that can be implemented quickly if needed.
Failure of hyperscale cloud providers is unlikely, but situations could arise that result in conflict of interest or other issues which cannot be resolved. In these scenarios, it may be necessary to move some, or all, of the cloud estate to a different provider. This is no mean feat. While cloud providers offer similar capabilities, unlocking them often requires different approaches, bringing significant technical complexity.
Operational resiliency in the cloud requires careful planning across three key areas:
Determine the likely scale and priorities of a cloud exit based on core workloads and business-critical systems which underpin service delivery.
Ensure the model considers fundamental aspects of safe and secure operations, such as security, monitoring, tagging, and backups on the different cloud platforms.
Identify inconsistencies and technical issues that could hinder a seamless transition, then devise practical solutions to work around them.
Deep understanding of banks’ cloud adoption challenges helps us overcome them.
Sourced can help you devise an effective cloud strategy that aligns with FCA rules.