Embracing the Cloud: Enhance Your Due Diligence

Leading institutions make cloud services part of their strategic plans and have well-defined short-term goals: Aite Group report

Boston, MA (Feb. 9, 2021) – The transition from traditional in-house or IT hosting to cloud services shares some common opportunities and challenges. However, each approach has its own unique aspects that need to be woven into due diligence as financial institutions migrate away from legacy services to a cloud infrastructure. Because buyers of cloud services seldom have firsthand insight to the cloud infrastructure, cloud due diligence requires a risk management approach to evaluate cyber risks as well as operational, data, and regulatory risks involved in cloud computing.

This new report from Aite Group highlights due diligence processes that IT and business leaders from small and midsize institutions should use in establishing in-depth analysis of external infrastructure, especially cloud computing resources. It was prepared through desk research on due diligence standards commonly used by financial services institutions in selecting a third-party vendor offering cloud services or more traditional hosting services.

This 31-page Impact Report contains four figures and three tables. Clients of Aite Group’s Institutional Securities & Investments, Wealth Management, Wholesale Banking & Payments, Retail Banking & Payments, Health Insurance, Life Insurance, P&C Insurance, Cybersecurity, or Fraud & AML service can download this report, the corresponding charts, and the Executive Impact Deck.

Click here for the online summary or to download the table of contents.

This report mentions Adobe, AES, Auditwerx, AWS, Box, BMC Software, buguroo, CenturyLink, Compute Engine, CoreTech, Cyxtera, Data Foundry, DigitalOcean, Digital Realty Trust, DocuSign, Dwolla, Equinix, FICO, Finastra, FIS, Fiserv, Fujitsu, Google, HCL, IBM, Iron Mountain, Jack Henry, JPMorgan Chase, KnowBe4, Microsoft, NTT Communications, Okta, Oracle, OVHcloud, RackSpace, Red Canary, Reevo, Ring Central, Roku, Salesforce, SecureWorks, Sirius Computers, Slack, SpyCloud, Strata, SurveyMonkey, Square, Symantec, Trustwave, YouTube, Wipro, and Workday.

About Aite Group

Aite Group is a global research and advisory firm delivering comprehensive, actionable advice on business, technology, and regulatory issues and their impact on the financial services industry. With expertise in banking, payments, insurance, wealth management, and the capital markets, we guide financial institutions, technology providers, and consulting firms worldwide. We partner with our clients, revealing their blind spots and delivering insights to make their businesses smarter and stronger. Visit us at www.aitegroup.com.

Source: Aite Group

Tags: , ,