In recent years, the financial services industry has increasingly adopted cloud services. This trend is expected to continue with the further adoption and integration of cloud service provider functions, replacing traditional technology for banking, commerce, financial transactions, and the exchange of financial data. Due to this trend, CSA has been conducting surveys to better understand the adoption of cloud computing technology in the finance industry, bringing together a community of contributors from global banks, fintech, payment processors, insurance companies, financial supervisory authorities, data protection authorities, and other national regulatory bodies. Now, with this latest report, we aim to better understand: Financial institutions’ level of adoption of cloud solutions and requirements compared to prior surveys conducted in 2019-2020. Current challenges facing the financial services industry. Opportunities for CSA to create guidance on protecting financial data and related assets within secure cloud services.
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