CTP ' s Continuous Compliance delivers an automated approach to both technical and process oriented compliance .
Geography Plays a Role
It would be one thing if companies were able to rework compliance processes globally , just based on the changes imposed by the cloud . But compliance rules in one locale don ’ t always mesh with those in another . Take GDPR and FCA , for instance . These are a pair of new regulations created in the UK that require businesses to protect the privacy of individual data . They were created to govern individual data in Europe , but they apply to every global business that touches European consumers .
These are just the latest examples of geography-specific regulations that tilt the playing field for companies preparing compliance plans . As cloud adoption increases , expect to see more government actions to ensure that data is accounted for and protected .
Compliance Needs to be Monitored and Updated
There ’ s a misconception that monitoring for security and for compliance amount to the same thing . Security is a big part of compliance , to be sure , and having tools that produce reports about threat detection and security preparedness are critical to the survival of any business .
But there ’ s more to compliance monitoring than keeping track of security threats . Regular monitoring provides continuous updates and assessments of issues – in the cloud and beyond – that are evolving more quickly and unexpectedly than ever before . It provides the domain-specific data that companies need to successfully manage their compliance programs .
A number of banks are embracing this continuous , real-time monitoring trend . According to a May 2017 report by McKinsey & Co ., as the scope of regulation widens , some financial institutions have “ chosen to be ‘ constantly materially compliant ,’ a status just shy of full compliance , because of ongoing long-term remediation programs .”
The ability to review stats daily instead of , for example , four weeks before an audit , allows teams to spend more time moving their businesses forward rather than reacting to urgent issues . And real-time analysis pays significant dividends when it leads to early
8 | THE DOPPLER | WINTER 2018