IDC Analyst Connection: Demystifying Cloud Compliance for Financial Institutions

There are many advantages to migrating to the cloud. When selecting a cloud service provider, financial institutions must take into account security capabilities, service-level agreements, and compliance requirements. In this analyst report, IDC answers these five questions:
What are the top concerns and common misconceptions that arise when a financial institution assesses a cloud service provider?
What is a financial institution's typical process for evaluating a cloud SP?
How does utilizing a cloud SP reduce a financial institution's level of responsibility for security- and compliance-related activities within a shared responsibility framework?
How does a cloud SP provide assurance over and manage its area of the shared responsibility? What are financial institutions' best practices to satisfy financial services regulators' requests when using a cloud SP?

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