MAS to clarify use of cloud computing by banks
MAS's deputy chairman Lim Hng Kiang had said this week that MAS recognises the benefits of cloud technology, but wants banks to manage the risks that come along with it
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
Singapore
THE Monetary Authority of Singapore (MAS) will soon spell out what it expects of banks and other financial institutions which use cloud computing, following the industry's request for clarity in this area, said Sopnendu Mohanty, chief financial technology (fintech) officer at MAS.
This comes as banks begin to consider cloud technology - the storing and accessing of data and programs over the Internet - as a solution to the rising cost of infrastructure systems.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Ministry of Home Affairs Permanent Secretary Pang Kin Keong to retire
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
China pips the US if Asean is forced to choose, but analysts warn against reading it like a sports result
