Cloud infrastructure that has self-service and dynamic nature creates challenges for risk and compliance professionals where the tools that had worked well in the traditional data center will not be subjected to the public cloud.
Regarding the regulatory compliance and security that also includes the complexity involved in replacing legacy systems, financial institutions take more tentative approach to change when they are about to change for new technologies that compliance a risk factor.
Cloud native frameworks
Innovative financial service organizations are addressing these type of issues by introducing cloud-native frameworks to monitor the cloud. The major cloud providers work hard to ensure that there is any fundamental infrastructure for compliance in place, and new tools are available to ensure that the parameters are being followed.
Cloud Security Alliance Cloud Controls Matrix (CSA CCM)
The Cloud Security Alliance Cloud Controls Matrix (CSA CCM) framework establishes fundamental security principles for cloud vendors and assists prospective cloud customers by determining the overall security risk of a cloud provider. The CSA CCM provides a controls framework that has detailed explanation of security concepts and principles subjected to Cloud Security Alliance for 13 domains.
The CSA CCM supports existing information security control environments in the following number of ways:
• Business information security control requirements;
• It identifies and eventually reduces consistent security threats and vulnerabilities;
• Standardized security and operational risk management is employed;
• It monitors security expectations, cloud taxonomy and terminology, and security;
Cloud automation tools provide the companies to take the burden off of the IT department by automatically monitoring their applications and identifying and fixing issues on the fly that continuously scans the virtual infrastructure related to security, accessibility and cost.