FS-ISAC, the member-driven, not-for-profit organisation that advances cybersecurity and resilience in the global financial system, announced that Google Cloud has joined its Critical Providers Program, designed to strengthen the security of the financial sector’s supply chain.
What does the partnership mean for the financial sector?
The partnership will focus on reducing third-party cyber risk to avoid service disruptions within the financial sector and foster a community of transparency as critical service providers host, connect, and protect a substantial percentage of financial institutions’ infrastructure.
The Critical Providers Program is an official conduit for non-financial firms providing network infrastructure to share sensitive and industry-specific information. During large-scale cyber incidents or threats, providers can leverage the dedicated communication channels to expedite the dissemination of accurate information to address the risks and keep the financial industry safe. The Program was launched in 2022 with Akamai as a founding partner.
“Financial institutions are relying on cloud-based tech, highlighting the need to bolster cloud computing services and the greater financial sector’s protections and preparedness against sophisticated cyber threats,” said Teresa Walsh, Global Head of Intelligence of FS-ISAC.
“Our partnership with Google Cloud will foster collaboration and information sharing between our member firms and this key provider to the sector, including allowing for the dissemination of timely security information and remediation in the event of a large-scale incident.”
What does the partnership mean for Google Cloud?
“Google Cloud’s partnerships with key organisations in critical infrastructure sectors, such as FS-ISAC, are vital to ensuring our customers are protected and educated amidst a complex and evolving threat landscape,” commented Phil Venables, CISO at Google Cloud.
“We are already a long-standing supporter of FS-ISAC and are excited to be the first major cloud provider in the Critical Providers Program. We look forward to sharing our resources and unique insights with FS-ISAC to build a more secure and resilient financial system.”