The IQ Business Group (IQ) today responded to the recent caution by the Australian Prudential Regulation Authority (APRA) regarding the use of cloud computing in the financial services industry. APRA highlighted concerns as to how some cloud-computing solutions might compromise business continuity plans, confidentiality of data and compliance with prudential and legislative requirements. The IQ Business Group, whilst in agreement with APRA on the incorporation of correct risk assessments, believes that the Regulator is underestimating the demand and implementation of internet-based computing solutions.
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