Financial Services Stakeholder Platform

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Cloud Usage in the Financial Services Sector
Cloud Usage in the Financial Services Sector

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Financial Services Stakeholder Platform
The world of IT banking has changed considerably in the past four years in terms of the adoption and usage of cloud computing technology. The finance industry has moved from “dipping their toe” in the cloud, through experiments and proof of concepts, to material and structural use cases supporting key products and services. A shift in the concerns of financial institutions is visible. The focus has moved from technical issues to regulatory and contractual concerns. Themes like education and skill set have come to the fore (perhaps in part driven by adoption of agile practices as exemplified by DevOps).

What is CSA’s role in helping secure financial services?

The Financial Services Stakeholder Platform reaches a global audience and brings together financial service institutions, financial supervisory authorities, data protection authority, and other national regulatory bodies. This group hosts monthly knowledge sharing sessions with its members; and when able, hosts face-to-face meetings in conjunction with industry conferences.

Together our members discuss and identify commonly acceptable best practices that will help manage the technical security risks related to cloud adoption, and facilitate compliance with laws and regulations. Unlike other CSA working groups, participation in this group is limited to individuals from organizations who are CSA Corporate Members.

Find out about upcoming projects and initiatives planned for this group by downloading the working group charter.

CSA is partnering with the Cyber Risk Institute (CRI) to provide the financial community with new resources to map and integrate CSA’s Cloud Controls Matrix (CCM) and CRI’s Financial Services Cybersecurity Profile. To learn more, download our group charter.

Financial Services Stakeholder Platform

The main objective of this working group is to identify and share the challenges, risks and best practices for the development, deployment and management of secure cloud services in the financial services industry.

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Working Group Leadership

Craig Balding Headshot
Craig Balding
Craig Balding

I help enable organisations to safely operate and transact online in the face of dynamic and adaptive threats. After 20 years of attacking and defending top tier firms I founded Resilient Security to provide cyber risk and security advisory, consulting and services.

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Jim De Haas Headshot
Jim De Haas
Jim De Haas

Cloud Security Expert

Seasoned security professional with a demonstrated history of working on critical, complex and highly available banking applications. A technology enthusiast, who enjoys collaborating with cross-functional teams. A strong communicator who can evangelize security across the organisation. Specialised in Cloud Security (Both AWS and Azure), IT Security, training DevOps engineers in security topics and making security understandable to non-secu...

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Sean Gray Headshot
Sean Gray
Sean Gray

Security Strategy, Threat Management. Senior Director, Information Security Strategy and Threat Mgmt at PayPal.

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William Izzo Headshot
William Izzo
William Izzo

Innovative leader with a strong technical and business background with a track record of success across multiple technology domains and markets. Senior business management and technical leadership experience in the DOD, Private, and Government sectors. Years of experience in the management of medium to large network and systems engineering teams with significant experience in the management of large multi-million dollar data com...

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Cloud Security Research for Financial Services

CSA Research crowd-sources the knowledge and expertise of security experts and helps address the challenges and needs they’ve experienced, or seen others experience, within the cybersecurity field. Each publication is vendor-neutral and follows the peer review process outlined in the CSA Research Lifecycle. We recommend getting started by reading the following documents.

Blockchain DLT Use Cases

Blockchain DLT Use Cases

Innovative technologies of blockchain and other systems of distributed ledger technology (DLT) have proven their ability to increase security of data during transactions and provide immutable long-term data storage. While blockchain technology is primarily associated with Bitcoin cryptocurrency, many other business models are currently taking advantage of blockchain technology. This paper covers nine use cases beyond cryptocurrency for blockchain.

Cloud Octagon Model

Cloud Octagon Model

In this document CSA provides an approach to assess risk in SaaS cloud computing. The Cloud Octagon Model stems from an approach conceptualized and implemented by the Cloud Security Group within the Technology & Engineering department, Corporate Information Security Office (CISO), ABN AMRO Bank NV (Netherlands). It counts such aspects as procurement, IT governance, architecture, development and engineering, service providers, risk processes, data classification, and country. The model provides practical guidance and structure to all involved risk parties in order to keep pace with rapid changes in privacy and data protection laws and regulations, and changes in technology and its security implications.

Cloud Usage in the Financial Services Sector

Cloud Usage in the Financial Services Sector

This survey analyzes the level of adoption of cloud solutions and requirements from financial institutions’ perspectives. The study analyzed the cloud usage of financial institutions across three main areas of interest: security concerns, regulatory requirements, and governance aspects.

Cloud Security Initiative for the Financial Sector

CSA is partnering with the Cyber Risk Institute (CRI) to provide the financial community with new resources to map and integrate CSA’s Cloud Controls Matrix (CCM) and CRI’s Financial Services Cybersecurity Profile. The goal is to define the scope, objectives and technical specifications of the Cloud Security Framework for Financial Services. To learn more, download our group charter
To participate, submit your interest to [email protected] and we will contact you to learn more about your experience.

Webinars & Resources

Cloud: Real-World Use and Challenges Across Financial Services

Cloud: Real-World Use and Challenges Across Financial Services

In this webinar Craig Balding, Co-Chair for the Financial Services Working Group will discuss: current cloud use in the financial sector, main security concerns such risk management, threat monitoring and technical controls, ie, key management, and established practices for secure and compliant cloud adoption.

How Financial Services can Leverage the Cloud Securely to Drive Business

How Financial Services can Leverage the Cloud Securely to Drive Business

In this session, our presenters will use case studies and personal experience to outline key steps that can be taken to secure financial technology innovators, and explain how traditional, cloud and potentially even blockchain technologies can be used by corporations to ensure the security they need to drive business forward.

DLT Security Framework for the Finance Industry

DLT Security Framework for the Finance Industry

Distributed Ledger Technologies introduce a multitude of value propositions for the financial services industry. The pace of innovation is aggressively picking up in use cases pertaining to finance such as digital assets, tokenization and cryptocurrency. However, the security measures are significantly inadequate to support innovation. There is a growing need for increased vigilance and an industry-standard security framework.

Blog Posts

Detecting When Ransomware Moves Into Your Cloud
PCI Compliance Checklist: Ensure Compliance
How to Secure Your CDE and Achieve PCI DSS Compliance

Press Coverage