For Regulated Entities

Cloud Outsourcing Risk Management

Cledara is the world’s only fully integrated risk management solution for cloud outsourcing risk management that embeds compliance with the EBA Outsourcing Guidelines in the day-to-day operations of the business for banks, electronic money and payment institutions and banks.

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Compliance for Cloud Software

We make compliance with EBA Outsourcing to Cloud Providers Regulations easy

By 31 December 2021, almost every financial institution in the UK and Europe will have to comply with the new Outsourcing Guidelines passed by the European Banking Authority (EBA). This means that not only banks but most regulated fintech companies will have to introduce risk management and compliance processes to manage the SaaS they use and many other things they outsource by next year.

We’ve distilled the requirements (EBA/GL/2019/02, EBA/GL/2019/04) into a simple to use 5-step process with one-click report generation, a real-time Cloud Software register and automatic reminders to ensure that you never miss a scheduled review.

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Business Case Template
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Risk Assessment Template and Critical or Important Classification
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Exit Plan for Critical or Important cloud outsourced functions
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Contract Review Checklist
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Ongoing monitoring
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Business Case

Benefits and cost assessment, documentation of key functional and non-functional requirements.

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Risk Assessment

Documented risk ratings, comments and mitigations for 23 different regulatory requirements.

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Critical or Important

Documented classification, enhanced due diligence and risk assessment template, Exit Plan.

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Contract Review

Contract review template for the 7 different regulatory requirements, plus enhanced contract review for Critical or Important functions with a further 23 regulatory checks.

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Monitoring

Automatically generated Cloud Software register with the 10 fields required by the regulations updated in real time and a further 9 fields required for cloud software classified as Critical or Important.

EBA Cloud Outsourcing guidelines come into effect December 2021.