Financial Services Industry

Financial Services Meeting 3/24/21

• Circle community, upcoming CSA virtual events
  
  • CSA Events (Spring 2021)
    • https://cloudsecurityalliance.org/events/ 
      • Call for Participation
      • Zero Trust Security and the use of the Cloud
      • APAC Summit 2021
      • EMEA Summit 2021
  • CCAK Exam now available
    • CCAK Study Guide
      • https://www.isaca.org/bookstore/bookstore-misc-digital/wccak
        
    • Overview from CSA website, exam, training, resources
      • https://cloudsecurityalliance.org/education/ccak/
  • CCM v4 additional mapping, updates
    • CRI Financial Services Cybersecurity Profile mapping to the CCM
  • Financial Services research publications from CSA website artifacts
    • https://cloudsecurityalliance.org/research/artifacts/?search=&char=&term=financial-services-stakeholder-platform&locale=
      
      
• Lift and Shift (Rehosting) Discussion lead by Co-Chairs
  • Lift and Shift is an approach for moving an application and its associated data to a cloud platform, without redesigning the app, usually from on-premise to public or private cloud.
    
  • There is no one-size-fits-all transition for moving an application, but there are acknowledged core migration paths; many consider lift and shift (AKA rehosting) one of them. It's a way for companies to protect their investments in business workflow, logic, and data trapped in on-premises hardware.
  • Craig, Sean, Bill, and Jim each gave real world examples of Lift & Shift deployments, including from PayPal, DTCC, ABN AMRO, and the benefits, challenges, and pain points accompanying the migrations.
  • The major cloud providers (GCP, AWS, Azure) have built in tools to help with providing recommendations and optimization.
  • Benefits of Lift and Shift
    • Achieve cost savings.
    • A migration path to the cloud now.
    • Cloud disaster recovery, moving data to a cloud location gives firms a second, highly available site.
    • Relief from technical debt. Legacy systems can be slow and expensive to maintain.
      
      
• Open Discussion, Q&A
  • Follow up questions from the group on the co-chairs from their presentations of the pros and cons, best practices, strategies, concerns, and personal experience with Lift and Shift deployments. 
  • Topic ideas for the next financial services research publications
    • Suggestions for next meeting content
      • Additional Lift & Shift Case studies
        • Develop a framework and/or checklist that could be useful in Lift & Shift migrations for cloud services providers and financial institutions.
      • Threat Intelligence
      • GRC, Privacy, risk management
• Next Zoom Meeting: April 28th 8:00 AM PT
  • https://cloudsecurityalliance.zoom.us/j/94151107820
    • Lift and Shift Discussion - Continued
      • Nnamdi Osuagwu volunteer to share his experience with a Lift & Shift related model
      • Open for others who are interested in presenting or sharing their experiences
    • Additional Resources
      • https://www.netapp.com/knowledge-center/what-is-lift-and-shift/
      • https://www.veritis.com/blog/how-can-organizations-makes-best-use-of-lift-and-shift-cloud-migration/

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Alex Kaluza
Research Coordinator
Cloud Security Alliance
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