Navigating compliance in cloud transformation programmes

BSG helped the vehicle asset finance business of a leading African Bank ensure uninterrupted adherence to regulatory requirements throughout the cloud implementation of one of its core systems

overview of the clients needs
  • Manage compliance requirements associated with a cloud implementation of a core operating platform (including National Credit Act (NCA), Consumer Protection Act (CPA), Financial Intelligence Centre (FIC) Act and specific South African Reserve Bank (SARB) cloud directive regulations)
  • Ensure uninterrupted adherence to all relevant regulations throughout the iterative implementation
  • Facilitate the completion and approval with SARB of the cloud provider assessment to ensure identification, assessment and provision of effective controls to manage risks associated with a cloud-based solution
  • Ensure uninterrupted compliance to relevant regulations
  • Facilitate approval of the Bank’s Risk Appetite Framework with the South African Reserve Bank
  • Minimise risk of fines resulting from temporary non-compliance
  • Reduce cost of compliance by incorporating compliance needs into the scope of each iteration of the implementation, rather than retro-fitting functionality for compliance needs
  • Uninterrupted compliance across all relevant regulations and SARB directives
  • Cost savings realised by ensuring against fines for temporary regulatory infringements
  • Compliance needs incorporated into implementation scope, per iteration, ensuring against costly retro-fit requirements
  • Completion and approval of the Bank’s Risk Appetite Framework, in line with the SARB directive (D3/2018) and guidance note (G5/2018)
cloud compliance abridged

Managing compliance requirements associated with the cloud implementation of a core operating platform, ensuring uninterrupted compliance throughout the transformation journey

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