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Banks welcome MAS guidelines on cloud computing
But MAS warns that institutions are ultimately responsible for maintaining oversight of cloud services and managing the risks of using them
Add BT as a preferred sourcePublished Wed, Jul 27, 2016 · 09:50 PM
Singapore
BANKS in Singapore and cloud-computing services providers on Wednesday welcomed the new guidelines on outsourcing risk-management for financial institutions (FIs) issued by the Monetary Authority of Singapore (MAS) earlier in the day.
The guidelines, drawn up from extensive industry and public consultation, provide the industry with expanded guidance on how to manage the risks of outsourcing, including that for cloud-computing services, which are being increasingly adopted by FIs to streamline operations in a digitalised economy.
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