FFIEC Releases Position Paper on Cloud Computing Outsourcing
Grazed from Credit Union Times. Author: Peter Strozniak.
The Federal Financial Institutions Examination Council released a statement Tuesday highlighting key elements that financial institutions need to address before deciding whether to outsource cloud computing services.
In its summary statement, the FFIEC said financial institutions have to consider the “fundamentals of risk and risk management defined in the FFIEC Information Technology Examination Handbook (IT Handbook), especially the Outsourcing Technology Services Booklet (Outsourcing Booklet).”
The outsourcing booklet reviews specific issues of cloud computing such as data classification, data segregation and recoverability. The booklet also addresses vendor management, information security, legal, regulatory and reputational considerations, business continuity planning and auditing…
Salesforce.com is going to buy a two-year-old Nova Scotia start-up that just launched last September called GoInstant for a reported $76 million.
It looks like Microsoft is serious about becoming the operating system for cloud computing. At its Worldwide Partner Conference on Tuesday, the company announced what amounts to a white-label version of its Windows Azure cloud platform targeting current Windows Server-based web hosts. This looks like a shot across the bow at VMware, which has been pushing its vCloud agenda — which spans both on-premise and cloud-based VMware deployments — for a couple years.
Numerate, Inc., a technology platform company that is leveraging proprietary algorithms and the power of cloud computing to transform the drug design process, announced today that its drug discovery platform, based on its open-source distributed framework, Numatix, has been shown to reliably and cost-effectively scale to 10,000+ cores using spot instances on Amazon Web Services’ Elastic Cloud Compute (AWS EC2). The 10,000+ cores were used to screen virtual compounds against predictive assay models in one of the company’s commercial partnerships.
Sprint today announced an exclusive relationship with CSC to deliver cloud computing, cloud-based email, managed hosting and colocation services within the United States to potential commercial customers. Sprint’s ability to deliver CSC’s Infrastructure-as-a-Service (IaaS) solutions joins Sprint Complete Collaboration, a Unified-Communications-as-a-Service (UCaaS) solution launched earlier this year, in an expanding portfolio of Sprint cloud-based solutions that are planned for launch in the second half of 2012.
GitHub, the cloud-based collaborative source code management site, has raised a whopping $100 million first round.
Cloudability has added a "tribes" feature to its cloud bill monitoring service that lets a company aggregate employee users into a project team or a business unit to see the computing bill they are generating and spot whether it exceeds their monthly budget.
Citrix today announced that leading Web hosting provider 1&1 Internet has designed its public cloud offering, Dynamic Cloud Server, on Citrix XenServer™ technology, demonstrating significant momentum for the rapidly growing Citrix Cloud Platform Business. Fueled by the strong leadership and rapid adoption of open source Xen technologies, 1&1 Internet has strategically adopted Citrix technology for its public cloud computing solution. Citrix XenServer is now powering cloud services for four out of five of the world’s largest hosting providers.