The EBF Cloud Banking Forum: supporting a harmonized supervisory approach to cloud in Europe
European banks consider cloud computing as a key-enabling technology, providing tremendous potential for advanced IT processes and added value for clients. However, the characteristics of this innovative technology change the face of traditional IT processes. Meeting the strict regulatory framework for European banks that aims for financial stability, technological changes in turn require advanced regulatory considerations. The fast-developing cloud environment knows three relevant parties that need to be involved in the discussion of tomorrow’s cloud use by banks: the European banks, the Cloud Service Providers and the regulators. The EBF Cloud Banking Forum facilitates a common understanding of technology, expectations and requirements among these parties. Concrete technical works aims to provide best practices for banks and to support a harmonized regulatory treatment of cloud adoption by banks in the EU.
- - relevance of cloud computing for European banks
- - presentation of the EBF Cloud Banking Forum
- - insights into technical work / guidance by the Forum, supporting the cloud adoption by banks in Europe