Banks Forge Cloud Agreements to Split Accountability
Banks are trying to split responsibility for their operating environments with the major cloud providers. Regulators are having none of it.
Today, many regulators classify cloud technology as a form of outsourcing, essentially putting the onus on institutions for their assets and the continuity of their services. But some say that the lines of accountability have been blurred since the shared responsibility model has been introduced by some of the biggest cloud providers.
The model is a contractual agreement between the cloud provider and an end user, which outlines how accountability is divided between the parties. It has been
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