The Polish Financial Supervision Authority (the “KNF”) is responsible for the supervision of the financial markets to ensure its proper functioning, security, and transparency in addition to protecting the interests of market participants.
The Communication of 23 January 2020 from the KNF on information processing by supervised entities using public or hybrid cloud computing services (the “framework”) addresses how supervised entities subject to financial market supervision by the KNF should assess cloud services to minimize operational risk. The framework provides specific guidance on the minimum requirements for cloud-based information processing, including the agreement with the cloud service provider, requirements for cloud service providers, cryptography, and monitoring information processing in the cloud computing environment.
Google Cloud’s contracts for financial institutions in Poland address the requirements in the framework. We have also created mappings to the guidelines for both GCP and Google Workspace to assist you with understanding how we can support you with meeting the requirements and assessing us as an outsourced service provider. Google Cloud is committed to addressing these requirements regardless of how financial institutions choose to use our services.