NAFCU Services Blog

Aug 23, 2018 by Amazon Web Services
Categories: Compliance

Keeping Credit Union Compliance Teams Soaring Toward the Cloud

By: AWS Credit Unions Team

Don’t let cloud compliance missteps fail your credit union. Below are four steps to take in order to stay in front of cloud compliance challenges:

1.  Education: The biggest challenge for credit unions is understanding how the cloud operates. Newer security practices, despite being different, can be more protective as well as cost-effective.

 

2.  Awareness: No one can know everything. Understanding what security solutions are out there, the actual compliance regulations, and how organizations can meet them with evolving technology, will help your credit union become a thought leader and an industry innovator.

 

3.  Auditing: When it comes to compliance challenges, setting an automated compliance process can help credit unions handle reviews preemptively. An effective cloud deployment can enable credit unions to automate compliance and configuration reports – there are many available options already on the market. Many organizations set up continuous checks against their environment based on compliance requirements to automatically generate reports – alerting and gliding internal teams and third-party auditors.

 

4.  Documentation: Proper documentation of compliance standards and approved architecture patterns eliminate credit unions’ fear of any audits or potential new projects. Instead, run at them full-steam ahead.

The tools for secure and efficient cloud services exist. Credit unions should check that their teams are current on modern services, such as the cloud, to take full advantage of all that they have to offer. That starts with education and awareness and comes full circle with auditing and documentation.

About the Author