The Netherlands banking regulator has approved Amazon internet Services (AWS) to be used by money organizations, Amazon aforesaid on Monday.
This clears AWS cloud services to be used across all areas of Dutch money operations as well as websites, mobile applications, retail banking and credit risk analysis solutions, Amazon aforesaid. With the approval, Dutch banks be a part of different money organizations victimization AWS as well as Bankinter in Espana, Unicedit in Italian Republic and therefore the Commonwealth Bank of Australia, Amazon noted.
All levels of knowledge storage and management on the AWS Cloud, yet because the use of technology that runs on high of AWS and is provided by third party vendors, are enclosed within the approval, Amazon additional.
Financial organizations about to use cloud computing got to 1st inform banking regulator Diamond State Nederlandsche Bank (DNB) and supply it with a chance to review a risk analysis, aforesaid DNB representative Remko Vellenga.
"DNB believes that cloud computing that uses third-party services, for instance for storing and process information, is truly a variety of 'outsourcing,'" Vellenga aforesaid. "This implies that once victimization cloud services from third parties, the corporate is command to an equivalent legal necessities that apply to outsourcing."
Outsourcing to 3rd parties should not hinder management by the DNB, and risks got to be renowned and controlled if money establishments use a cloud service, Vellenga aforesaid.
DNB discreetly issued its AWS approval on July eleven.
"We have already got massive Dutch banks running their retail banking platforms on AWS due to the work we've through with the DNB," per an announcement from Steve Midgley, head of EMEA -- Amazon internet Services.
In January, DNB aforesaid on its web site that it had problems with cloud suppliers over observance frequency. By law, DNB is allowed to observe business operations in the slightest degree times, however, in contracts projected by cloud suppliers like Microsoft, conditions were obligatory on the management frequency, it said.
Since then, the difficulty has been resolved. Microsoft has united to alter its contracts to fits Dutch law, permitting Dutch money establishments to, for instance, use workplace 365, DNB said.
So far, agreements associated with cloud implementations by Dutch banks are created with Microsoft, KPN, IBM and Salesforce, aforesaid Vellenga. DNB is additionally in talks with different corporations, he said, declining to mention that vendors were concerned.
This clears AWS cloud services to be used across all areas of Dutch money operations as well as websites, mobile applications, retail banking and credit risk analysis solutions, Amazon aforesaid. With the approval, Dutch banks be a part of different money organizations victimization AWS as well as Bankinter in Espana, Unicedit in Italian Republic and therefore the Commonwealth Bank of Australia, Amazon noted.
All levels of knowledge storage and management on the AWS Cloud, yet because the use of technology that runs on high of AWS and is provided by third party vendors, are enclosed within the approval, Amazon additional.
Financial organizations about to use cloud computing got to 1st inform banking regulator Diamond State Nederlandsche Bank (DNB) and supply it with a chance to review a risk analysis, aforesaid DNB representative Remko Vellenga.
"DNB believes that cloud computing that uses third-party services, for instance for storing and process information, is truly a variety of 'outsourcing,'" Vellenga aforesaid. "This implies that once victimization cloud services from third parties, the corporate is command to an equivalent legal necessities that apply to outsourcing."
Outsourcing to 3rd parties should not hinder management by the DNB, and risks got to be renowned and controlled if money establishments use a cloud service, Vellenga aforesaid.
DNB discreetly issued its AWS approval on July eleven.
"We have already got massive Dutch banks running their retail banking platforms on AWS due to the work we've through with the DNB," per an announcement from Steve Midgley, head of EMEA -- Amazon internet Services.
In January, DNB aforesaid on its web site that it had problems with cloud suppliers over observance frequency. By law, DNB is allowed to observe business operations in the slightest degree times, however, in contracts projected by cloud suppliers like Microsoft, conditions were obligatory on the management frequency, it said.
Since then, the difficulty has been resolved. Microsoft has united to alter its contracts to fits Dutch law, permitting Dutch money establishments to, for instance, use workplace 365, DNB said.
So far, agreements associated with cloud implementations by Dutch banks are created with Microsoft, KPN, IBM and Salesforce, aforesaid Vellenga. DNB is additionally in talks with different corporations, he said, declining to mention that vendors were concerned.
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