By Sam | August 5, 2013

What Can I Do to Make Sure the Credit Union Cloud is Secure?

If I had to pick the top two subjects that continue to come up when discussing the Credit Union cloud  –  I’d choose security and functionality. Those two topics  (and the comfort level to which they are answered) are driving the pace at which Credit Unions are moving forward with adopting what is arguably the first technology that promises to level the playing field by adhering with a “pay for what you use” strategy. We’ve written dozens of articles, blog posts and even a few eBooks on these subjects to provide you with the most up-to-date educational material available. Recently, I came across a particularly informative piece in CUTIMES by Dave Anderson entitled: “5 Brilliant Things the Cloud Can Deliver, And 5 Ways to Secure It” that boldly jumps head first and succinctly delivers (IMO) answers to both of these questions.

While you can read the entire post by following the link, I’ve grabbed the highlights for discussion. In today’s blog, lets look first at Dave’s 5 Things the Cloud Can Deliver (we’ll tackle the “5 Ways to Secure It”) in Thursday’s blog).

1. Data Protection – I agree that outside of a Credit Union’s human assets, data rules supreme. The shift in thinking Dave eludes to in this section is what makes his input so compelling – he says “the trick is to protect at the moment of creation”.  In the past, we’ve focused on protecting data after the fact or once it’s ready for transmission. Once you’ve grasped the concept of create/protect and created a comprehensive data protection strategy, the cloud seems less daunting.
2. Regulatory Compliance and Data Residency Requirements – I have an opinion on this – actually a strong one. If a potential cloud provider does not have any experience in my industry, they won’t get my business. Now granted, technology is technology. BUT regulatory compliance is specific to an industry – and not just FINANCIAL regulations but CREDIT UNION regulations. Get in partnership with a Credit Union technology provider and even then, ask for references.
3. Scalability and Flexibility – The security challenges of a scalable and flexible environment are mostly that of data protection. Mechanisms must be in place to address the security of data regardless of whether access is from corporate headquarters or the local Starbucks. We see it all the time – policies are written for laptops, remote access, iPADS, recording devices – but isn’t the real topic always about data protection? Protect the data first, EDUCATE staff on expectations (remember that Ethics Policy that says protect the Credit Union, don’t steal data, etc) and have a response program in place when an incident occurs.
4. Cost Efficiencies –  GAME CHANGER for Credit Unions! Unless you are that special Credit Union with an unlimited amount of I.T. budget dollars, the cloud “pay for what you use” platform undoubtedly will (as a minimum) cause your C-level suite to raise an eyebrow and ask for more information. But you know that cost efficiencies alone won’t get you buy-in.  In considering cloud solutions and budgets, remember to analyze the current I.T. assets you may no longer have to host in-house – firewalls, IPS/IDS, Servers, MS Licensing, etc. Develop a parallel analysis that shows how security is either sustained or in most cases strengthened by the new configurations.
5. Access to Data Anytime, Anywhere – I have to quote Dave on this – “When harnessed correctly, cloud computing offers numerous opportunities to drive business innovation.” Key words – harnessed correctly. I can remember a time when building walls and having sophisticated entry protections systems (errr, locks) meant I was doing my job as the CIO. The thought of anyone needing access 24/7 was considered suspicious! Thankfully, we’ve arrived to time where clocks don’t rule creativity and innovation. But wait a second – didn’t Dave just say that if we incorporate a strategy to protect the data at creation that things would be easier? Absolutely! Stop writing new policies for everyone new “exposure” (remote access/travel) or “device” (cell phones, iPADS) – protect the data at the onset and cloud computing becomes much easier to implement.

Our next post will look at the second part of Dave’s post regarding Credit Union cloud solutions and the actual security concepts that are making this technology a must-look for leaders!

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5 Ways the Cloud Can Save You Money

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Can I work from Anywhere with Hosted Virtual Desktop? – Part 1

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