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Thomas Krause

ABOUT THE AUTHOR

Thomas Krause is employed at eOperations Switzerland Ltd, serving as Product Manager NEST - a leading provider of business solutions for tax administrations in German-speaking Switzerland - while also heading the office of the Digital Tax Association (VDS). He studied business with a focus on taxation and auditing in Germany. After graduation he gained hands-on experience in Switzerland—working, among others, for Ringler Informatik Ltd (e-Tax complete solutions), the Zurich Cantonal Tax Office and Kendris Ltd.
Cloud Services for Banks and Securities Firms

by Thomas Krause | Dec 13, 2025 | Information Technology/AI

k-flash audio commentCloud Services for Banks and Securities Firms
k-flash audio commentCloud Services for Banks and Securities Firms

The case

The increasing use of cloud services by banks and securities firms offers significant operational benefits but  at the same time also heightens dependency on external providers and concentration risks. FINMA’s Risk Monitor 2025 (17 November 2025) highlights growing reliance on a small number of central ICT and SaaS providers, emphasizing the need to strengthen operational resilience.

Source: mme.ch

The commentary

Supervised institutions must identify, assess, manage and continuously monitor the operational, ICT as well as outsourcing risks associated with cloud usage. Before engaging a cloud provider firms are required to conduct thorough due diligence and ensure full compliance with financial market, technical, contractual and data protection requirements. Cloud contracts must be appropriately reviewed and supplemented to address regulatory, security and data protection safeguards.

This publication has been prepared solely for information purposes and is does not constitute a recommendation, a solicitation, or an offer. The information on which this publication is based has been obtained from sources that we believe to be reliable and in good faith, but we have not independently verified such information and no representation or warranty, express or implied, is made as to its accuracy. All expressions of opinion are made as of the date of publication and may be subject to change without notice. k-flash and all related affiliates accepts no liability or responsibility whatsoever for any consequential loss of any kind arising out of the use of this publication or any part of its contents. The use of this publication should not be regarded as a substitute for the exercise by the recipient of his or her own judgment. This publication is not directed to any person in any jurisdictions that prohibit such publication.
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