ING digital transformation. How can we stay in control of cloud arrangements ?

Abstract

ING's purpose is to empower people to stay ahead in life and business, and to encourage people to do more of the things that get them moving. Customers expect the bank to be present on the digital platforms where they shop, socialize, and conduct business. Many questions arise when it comes to data and the cloud. Is it properly safeguarded? What about your anonymity and banking confidentiality? What does the bank regulator think about this?... The goal of our research is to design a regulatory-acceptable framework that enables ING to support its digital strategy, reassure clients, and retain control over its operations. The concepts of cloud computing, data security, and the different regulations that a European bank must follow, ranging from outsourcing to IT security and GDPR, will be discussed. The agile approach is used to design the control scheme, which involves optimized processes as well as operational and key results indicators (OKR). It's not just about technology in this shift; it's also about people. The Obeya Room serves as a team meeting and decision- making space. The CSSF approved the framework at the end of April 2021. This is a win, but it isn't the ultimate target. Maintain your progress. Many other global financial institutions look to the bank for inspiration in terms of agile and cloud. There has never been a better time than right now. ING can take advantage of this opportunity by engaging in European initiatives such as Gaia-X to foresee current and future digital concerns in Europe. While the data economy holds a lot of promise, it also raises legal, environmental, and educational issues.