Financial Firms In The European Union Are Facing Strict Rules Around Cloud Based Services

News
In today’s hyper-connected world, most of us now take care of our daily tasks with the help of digital tools, which includes online banking. Whether we’re reviewing our account balances, transferring money, applying for payment cards, or simply paying our bills, banking has become more digital, and requires financial firms to adapt to this new world of transacting business. This adaptation has seen EU-based financial firms adopting and relying more heavily on cloud services. While financial entities such as banks and investment firms are staying digitally relevant by migrating their banking…