A Summary of the U.S. Department of Treasury’s Report “The Financial Services Sector’s Adoption of Cloud Services”

The U.S. Department of Treasury recently released “The Financial Service’s Sector’s Adoption of Cloud Services” (“Cloud Report”), outlining key issues facing the U.S. financial services industry as it adopts cloud services. Forty-eight organizations, including global banks, participated in the “open discussion without attribution focused on the current and future state of cloud adoption, viewpoints on the unique risks related to cloud adoption and third-party risk management processes.” It noted that while there are numerous benefits from migrating to the cloud, there are sizable risks that financial institutions (FI) and regulators need to scrutinize.

In DayBlink Consulting’s latest thought piece, Phillip Carrington highlights four themes that emerged from the Cloud Report, and our thoughts on what institutions should consider as they continue working with cloud service providers (CSP).

Learn about four key cybersecurity trends we see starting – and staying – in 2023, in DayBlink Consulting’s latest thought piece from Phillip Carrington on Medium.

---

About the Authors

Phillip Carrington is a Manager within DayBlink Consulting’s Cybersecurity Group.