Global FinTech & Payments Blog

Tag Archives: cloud services

The Systemic Importance of Cloud-Based Service Providers to Banks

US lawmakers urge FSOC to designate cloud-based storage systems used by major banks as systemically important financial market utilities. By Alan W. Avery, Victoria McGrath, and Pia Naib In an August 22, 2019, letter addressed to Treasury Secretary Steven Mnuchin, in his capacity as chair of the Financial Stability Oversight Council (FSOC), Congresswoman Katie Porter … Continue Reading

What EBA’s Outsourcing Guidelines Mean for Financial Institutions

The guidelines create new obligations for financial, payment, and electronic money institutions that will impact cloud outsourcing and deployment of FinTech. By Fiona M. Maclean and Laura Holden On 25 February 2019, the European Banking Authority (EBA) published a final report on its draft guidelines on outsourcing arrangements (Guidelines). The report followed the EBA’s publication … Continue Reading
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