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

Do you need help managing the compliance requirements of your transformation programme?

Our compliance consultants have deep understanding and experience across South Africa’s compliance and regulatory landscape. Let us help you manage your compliance needs as a stream within your transformation programme, ensuring cost-savings efficiencies and compliance throughout.

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