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But there are literally 100's (or more) of banks around the world that use AWS for compute. They meet all the security requirements you could want (27001, SOC2,
by kondro 6y ago
But there are literally 100's (or more) of banks around the world that use AWS for compute. They meet all the security requirements you could want (27001, SOC2, and many others) around how they secure and limit access to servers by staff and have a variety of WORM audit tools and a very comprehensive IAM to help you satisfy these requirements are being met.
- elliekelly 6y agoI think this is changing. Rapidly. A few years ago no one batted an eye at a financial institution using AWS but now banks seem eager to keep as much data as possible in-house. I’ve recently had two prospective clients (I now work in compliance SaaS) ask whether I use a cloud service provider as part of their vendor due diligence. Many banks seem to be aiming for the minimum viable external data processing.
- dathinab 6y agoI don't know about the parent comments work place, but I don't think any non-US bank should use a AWS (or GCP or Azur). It's way to risky that changes in local and/or US regulations will require you to move your whole infrastructure to a new provider like in a month or two (which is completely impossible). Btw. same applies for any bank relying on the infrastructure of a foreign company. Like e.g. just think about the whole legal mess around CLOUD act.
- 2rsf 6y agoI'm European and was surprised to hear that legal issues are indeed a part of the decision, not just technical details. AFAIK data that passes through the US may be legally intercepted by the US authorities.