FDIC’s Saxinger on Management and Contracts with Third Parties: Cloud & Mobile: Vendor Weak Points. With cloud computing, it’s difficult for financial institutions to know where their data is. With mobile banking, regulators would like to see an aggressive approach taken – making sure the software being used is properly secured. Pay attention to the contract is essential, Saxinger says, because the cloud environment is still very new. It’s difficult to lock down and say ‘This is really what a cloud contract is,'” he says.”]
Source: https://www.inforisktoday.com/cloud-mobile-vendor-weak-points-a-3770