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State of Financial Services in Cloud
Release Date: 06/05/2023
Working Group: Financial Services Industry
- 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.
- 98% of organizations are using some form of cloud computing, up from 91% in 2020.
- 57% of organizations currently use multiple cloud providers for their IaaS/PaaS needs.
- 59% of organizations store or process regulated banking information within cloud services, with only 25% having no future plans to do so.
- A common pain point is the need for broader awareness of approaches to auditing cloud services by regulators and auditors.
- 65% of organizations use CSA’s CCM and CAIQ to demonstrate adherence to frameworks, establish an internal cloud security controls framework, and establish an internal cloud risk management approach.
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Acknowledgements
Vinay Patel
Chief Information Security Officer, Zendesk
As Finastra’s CISO, Vinay is responsible for establishing an intelligence-led, threat-focused information security program capable of detecting and protecting against emerging cyberattacks targeting Finastra and/or its clients.
Troy Leach
Chief Strategy Officer (CSO), CSA
Troy Leach has spent more than 25 years advocating for the advancement of responsible, safe technology to improve the quality of living and parity for all.
As the Chief Strategy Officer, Mr. Leach supports Cloud Security Alliance's corporate strategy and ongoing mission to provide new and relevant cloud security awareness, education, research, programs and membership participation. Mr. Leach specifically focuses on external engageme...
Hillary Baron
Senior Technical Director - Research, CSA
John Yeoh
Global Vice President of Research, CSA
With over 15 years of experience in research and technology, John excels at executive-level leadership, relationship management, and strategy development. He is a published author, technologist, and researcher with areas of expertise in cybersecurity, cloud computing, information security, and next generation technology (IoT, Big Data, SecaaS, Quantum). John specializes in risk management, third party assessment, GRC, data protection, incid...
Daniele Catteddu
Chief Technology Officer, CSA
Daniele Catteddu is an information security and risk management practitioner, technologies expert and privacy evangelist with over 15 of experience. He worked in several senior roles both in the private and public sector. He is member of various national and international security expert groups and committees on cyber-security and privacy, keynote speaker at several conferences and author of numerous studies and papers on risk management, ...
Ryan Gifford
Research Analyst, CSA
Jez Goldstone
Director of Security Architecture, Cloud & Innovation
Jez is a cyber security expert, leader, innovator with over twenty years of IT experience in the Financial Services and other sectors. He has lead innovation initiatives and teams - focusing on where cyber innovations really add value to solve complex business challenges and open up competitive advantage opportunities. I have a keen interest in how Privacy Enhancing Tech, and specifically FHE, can help solve some of these challenges.
Sean Heide
Technical Research Director, CSA
Erik Johnson
Cloud Security Specialist & Senior Research Analyst, CSA
Worked for the Federal Reserve for many years and volunteered with the CSA with a focus on CCM/CAIQ V4, specifically the STA domain, and developing a comprehensive framework and guidance for defining and managing the cloud shared security responsibility model (SSRM).
I recently retired from the Federal Reserve and am now consulting with the CSA as a Senior Research Analyst with a focus on Zero Trust and Financial Services.
Linke...
Alex Kaluza
Research Analyst, CSA
Stephen Lumpe
Senior Graphic Designer, CSA
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