In the press: Financial services firms can benefit from cloud
Last updated on April 15th, 2020
Financial services firms operating in the UK can now utilise cloud-based IT solutions without fear of breaking their regulatory obligations, as the Financial Conduct Authority (FCA) has issued guidance for firms outsourcing to the “cloud” and other third-party IT services stating there is “no fundamental reason” why financial services firms cannot implement cloud services.
While the FCA states these are guidelines, not rules, it advises firms to take note in regards to their outsourcing strategies. One key element of the guidance is that firms will need to ensure cloud providers store their data in data centres based in suitable jurisdictions. This is because the FCA will still need oversight of any data relating to financial services firms.
In light of this new guidance, QuoStar’s Robert Rutherford discusses the many reasons financial services firms can benefit from adopting the cloud, why security issues are now a thing of the past and why firms should be looking for niche provider who can enhance IT service delivery rather than settling for an “off-the-shelf” cloud solution.
How to increase security & better protect your insurance firm
In recent years insurance firms have been targeted by numerous cyber attacks, both internal and external, including those by disgruntled former employees and organised cybercriminals. With the UK insurance industry alone managing investments of £1.9 trillion it is no surprise these firms are such an attractive target. Not only do these firms have a lot […]
How to choose the right document solutions provider
Managed print and document solutions can bring a wealth of benefits, including increased employee productivity and efficiency, the ability to maximise billable hours, and greater document and data security. But in order to truly harness these benefits and enhance your operations, you need to choose the right print and document solutions partner. Many companies will […]
10 ways to protect sensitive business data
In a modern business, communication and collaboration are becoming easier than ever. We can work remotely, we can access documents on our smartphones and check in with our colleagues whilst on the go. While the increase in this type of working culture is positive. The rise of social media, instant messaging and email – along with the […]