ABS (Singapore)

The Association of Banks in Singapore is an industry association that represents the interests of the commercial and investment banking community in Singapore and provides practical steps for financial institutions (FIs) wanting to leverage cloud computing technology.

The ABS Cloud Computing Implementation Guide 2.0 (ABS Guide) is closely aligned to the MAS’s Guidelines on Outsourcing and contains best–practice recommendations and considerations to support FIs’ safe adoption of cloud, including guidelines on due diligence reviews, vendor management, and key controls to implement when using cloud service providers (CSPs).

While the requirements of the ABS Guide are not binding, FIs should follow its recommendations to ensure that they and their CSPs satisfy industry expectations, namely, having the appropriate baseline standard of controls and processes. In order to support your compliance, we provide an ABS Guide mapping and Cloud best practices for Singapore financial institutions whitepaper detailing how Google Cloud helps FIs meet the ABS Guide requirements.