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Financial Services
Operational Resilience in the Cloud
Helping UK banks satisfy regulator demands for the security and resiliency of cloud-based systems.
Need a cloud partner to ensure regulatory obligations are met?
Sourced can devise an effective cloud strategy that aligns with UK Financial Conduct Authority (FCA) rules.
Banking in the Cloud
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.
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Reducing Dependency on a Single Cloud Provider
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:
Exit Strategy
Determine the likely scale and priorities of a cloud exit based on core workloads and business-critical systems which underpin service delivery.
Multi-Cloud Set-Up
Ensure the model considers fundamental aspects of safe and secure operations, such as security, monitoring, tagging, and backups on the different cloud platforms.
Cloud-to-Cloud Migration
Identify inconsistencies and technical issues that could hinder a seamless transition, then devise practical solutions to work around them.
We’ve helped leading banks improve security, governance, and resilience in the cloud.
Deep understanding of banks’ cloud adoption challenges helps us overcome them.
Talk to us about boosting operational resilience in the cloud.
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Looking to boost operational resilience or FCA compliance in the cloud?
Sourced can help you devise an effective cloud strategy that aligns with FCA rules.