Keeping credit union compliance teams soaring toward the cloud

by AWS Credit Unions Team, NAFCU Services Blog

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. The cloud empowers credit unions to automate compliance and configuration reports through products such as AWS Config, Amazon CloudWatch, AWS CloudTrail, and AWS CloudFormation. Organizations set up continuous checks against their environment based on compliance requirements to automatically generate reports that can be shared with third-party auditors and internal compliance teams.

 

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