EMEA | Financial services
BaFin Cloud Outsourcing
The Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin)
is responsible for the supervision of all banks, credit
institutions, insurers, funds and financial institutions in
Germany. Its objective is to ensure the functioning,
stability and integrity of the German financial market.
BaFin issued guidance on outsourcing to cloud service
providers (BaFin Cloud Outsourcing Guidance) to create
greater transparency into the supervisory assessment of
The BaFin Cloud Outsourcing Guidance provides
specific outsourcing guidance for financial institutions on
contractual terms, including information and audit rights,
the right to issue instructions, data security / protection,
termination and chain outsourcing.
Google Cloud's contracts for financial institutions in
Germany address the requirements in the BaFin Cloud
Outsourcing Guidance. We have also created mappings to the
BaFin Cloud Outsourcing Guidance for both GCP and Google
Workspace to assist you with understanding how we can
support you with meeting the requirements and assess us as
an outsourced service provider. Google Cloud is committed to
addressing these requirements regardless of how financial
institutions choose to use our services.