EU regulation on banks’ reliance on cloud giants

The EU is set to introduce new regulations that will see financial services firms having to show how quickly they could recover…

Share this article:

The EU is set to introduce new regulations that will see financial services firms having to show how quickly they could recover from a cyberattack. This comes as regulators fear their increasing reliance on a small pool of cloud vendors could result in downtime at a range of banks as the result an outage at just one of the major cloud players.

Thomas Eeles, CSIRT Manager at Orange Cyberdefense, Europe’s largest MSSP, has shared comment below based on his experience of incident response. He has provided thoughts on the dangers of not having a seamless incident response and recovery plan in place ahead of time, and how financial services firms can ensure these plans are implemented before they’re needed.

“A major part of incident response, especially when dealing with large scale incidents, is recovery and remediation. Typically, the immediate action will be to block the specific attack vector linked to the incident at hand, and then firms will move on to long term recovery and take steps to get everything back to normal.

“It is abundantly clear to those in the industry which companies have a disaster recovery plan, and which don’t. From my perspective, those that don’t have a recovery plan always – without fail – end up spending more money and time on recovery than on the actual investigation itself. I would say this reaches a rough 70/30 split.

“Businesses that do have a recovery plan will save time and money by planning their recovery strategy before it’s needed, as well as reducing stress and the risk of staff turnover after an incident. Ultimately, if financial services firms plan how long it would take to completely rebuild their network before any incident has taken place and present this plan to the powers that be for sign off, the process will be much smoother in the event that it’s needed. The rush and pressure will be alleviated, and the process will likely be completed more smoothly as a result.”

To read other news stories and exclusives, see our latest issue here.

Never miss a story… Follow us on:
LinkedIn Security Buyer
Twitter logo @SecurityBuyer
Facebook @Secbuyer

Media Contact
Rebecca Morpeth Spayne,
Editor, Security Portfolio
Tel: +44 (0) 1622 823 922
Email: [email protected]

About Security Buyer

Security Buyer is the leading authority in global security content, delivering expert news, in-depth articles, exclusive interviews, and industry insights across print, digital, and event platforms. Published 10 times a year, the magazine is a trusted resource for professionals seeking updates and analysis on the latest developments in the security sector.

To submit an article, or for sponsorship opportunities, please contact our team below.

Rebecca Spayne Picture

Rebecca Spayne

Group Managing Editor

Georgina Turner Picture

Georgina Turner

Sales Manager

Afua Akoto Picture

Afua Akoto

Marketing Manager

Related News

PaxLock Pro2 - securitybuyer.com

Paxton officially launches PaxLock Pro2

Paxton the security technology manufacturer has launched a brand-new re-engineered PaxLock which is built to protect straight
KentixONE data centre - securitybuyer.com

Data centre security with KentixONE

Prior1 develops container data centers to meet the highest security and energy efficiency standards. Their containers require
Chubbsafes - securitybuyer.com

Chubbsafes explores certified storage for jewellery and precious metals

Chubbsafes, part of Gunnebo Safe Storage, has launched a new technical discussion guide examining when certified
Mercury trends report - securitybuyer.com

New Mercury Research Finds Growing Cybersecurity Gap

2026 Trends in Access Controllers Report finds interoperability, cloud connectivity and AI are reshaping long-term controller strategies.
Chris Carroll - securitybuyer.com

Comelit-PAC Promotes Chris Carroll as Sales Director

Comelit-PAC has appointed Chris Carroll as Sales Director, following an 18 year career with the company, seeing him progress
Jason Bezuidenhout - securitybuyer.com

Zygal Appoints Jason Bezuidenhout

Zygal has appointed Jason Bezuidenhout as Chief Revenue Officer (CRO), strengthening its leadership team as the company continues
Eun-Kyung-Hong_- securitybuyer.com

How AI Manages Mixed Surveillance Workloads

Eun-Kyung Hong, HDD Product Manager at Toshiba Electronics Europe GmbH discusses AI optimisation in mixed surveillance workloads
ASSA ABLOY - securitybuyer.com

ASSA ABLOY Door Group highlights importance of BS 8214:2026

ASSA ABLOY Door Group is supporting Fire Door Safety Week 2026 by raising awareness of the latest update to BS 8214:2026
OPTEX at Essen - securitybuyer.com

OPTEX to showcase perimeter solutions at Security Essen

OPTEX will present its latest perimeter and asset protection solutions at Security Essen 2026, one of Europe’s leading security trade fairs.
Dallmeier

Building Trust in Modern Video Security

Rebecca Spayne, Managing Editor of Security Buyer, speaks with Josua Braun, Chief Revenue Officer at Dallmeier electronic, about cyber resilience, trusted supply chains, the practical value of artificial intelligence and what security professionals should consider when investing in modern video technology. 
Scroll to Top