MAS hosts forum on cloud resilience

The 20 participants discussed how to raise the adoption of public cloud services.

The first Financial Sector Cloud Resilience Forum by the Monetary Authority of Singapore (MAS) was held last 4 April.

The forum gathered Asia Pacific financial regulators and Cloud Service Providers (CSP) to share their perspectives on the proper public cloud risk management practices for financial institutions (FI).

Three main points discussed include the increasing adoption of public cloud services by FIs, CSP-assisted FI clients to maintain best standards, and critical information sharing between CSPs and financial regulators.

ALSO READ: Singapore bank profits to peak in 2023, but high rates will dampen lending

Headed by Vincent Loy, MAS assistant managing director for technology, the forum received more than 20 participants from regional regulatory authorities, Amazon Web Services, Google Cloud and Microsoft Azure.

MAS said the forum will be held twice every year.