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Cloud services for the financial sector

Kochański & Partners Law Firm is proud to be the exclusive legal partner to the Banking Working Group at the Polish Bank Association (ZBP), currently working on the development of a Polish standard for cloud computing implementations in the banking sector. This new standard is based on, among others the latest Financial Supervision Authority (UKNF) announcement of January 23, 2020, and concerns the processing of information by supervised entities in public or hybrid cloud computing.

The so-called PolishCloud standard, comprising a practical review of all existing legal acts related to cloud services for the financial sector, will provide a comprehensive guide to procedures, necessary documentation and individual stages of cloud computing implementation processes for banks, thus significantly accelerating the introduction of cloud services for the financial sector.

However, full implementation will require the application of certain procedures and the conclusion of a contract with a specific content. K&P, with its unique knowledge gained within the working group and many years’ experience in advising clients from the financial sector, offers a comprehensive package of services enabling financial institutions to efficiently and effectively implement cloud services and reduce the associated risk by ensuring compliance with, among others, ISO 27017 and ISO 27001 standards.

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