Standards Development
This standard specifies the minimum management and security requirements for the effective use of cloud computing in a financial services environment.
The main purpose of this standard is to assist a Financial Cloud Service Customer (CSC) in following an orderly cloud management lifecycle. This includes transition to, maintenance of, or exit from systems and applications that utilize cloud computing. The standard neither requires nor discourages the use of cloud services. This is a decision that a company’s executives should make after careful consideration of the advantages and risks of this strategy. While there are comprehensive guidelines about the process to adopt cloud services, such as the Object Management Group’s Practical Guide to Cloud Computing, no two organizations have the same requirements.
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