KARACHI: The State Bank of Pakistan (SBP) on Monday allowed financial institutions to outsource hosting on the cloud to both domestic and international cloud service providers. Now, financial institutions can use cloud services for non-core operations and business support processes. The exhaustive list is defined as HR modules, procurement functions, non-production environment, sandboxing, inventory management, supply chain management, office productivity, customer relationship management tools (WhatsApp, Facebook etc. ), communication tools, security tools, computation and processing services, data analytics and risk modeling, middleware and payments processing services. The SBP also maintains the right to conduct an audit and on-site inspection of the cloud service provider, or their sub contractor.

Source: Pakistan Today September 28, 2020 16:18 UTC