Cloud: 'Cautious' in Singapore2011 is the Year for Security Concerns to be Addressed
The concerns? Banking regulators, for one - How will the Monetary Authority of Singapore review banks' cloud initiatives? There is no specific cloud guidance yet, and banks are eager to see what the MAS will offer.
"One of the key security concerns of the MAS is, obviously in a public cloud environment, what kind of security has been put in place by the cloud service provider," Lee says. "Issues surrounding multi-tenancy, for example, and data access and governance - who actually has access to that data?"
Still, Lee is optimistic about Singapore seeing significant progress in addressing these security issues in 2011."Cloud computing is on the cusp of being recognized as a specific area of business that will help with the flexibility [of banks]," he says.
In an exclusive interview about the state of cloud computing among Singapore's banks, Lee also discusses:
- Key security considerations that give banks pause;
- Unique challenges for Singapore banks;
- How & where information security professionals can help ease the cloud transition.
James Lee is the Director of Business Strategy at Trend Micro Inc., a global leader in security for the virtualised datacentre, virtual end-clients environment, and its journey to the cloud.
He has over 11 years experience in the telecommunications and IT industry, covering roles in sales and marketing, business development and product management in organisations including Lucent Technologies, Teledata, Pacific Internet and Redknee Inc. prior to his role at Trend Micro. James has been involved actively in developing markets in the ASEAN region, including Singapore, Malaysia, Indonesia, Philippines, Vietnam, Laos and Cambodia.