Migration to the cloud in the financial sector is no longer a trend, but a necessity. Banks, fintechs, insurers and payment institutions are increasingly using cloud solutions to improve flexibility, scalability and innovation. However, as the infrastructure grows, so do new risks – from unauthorized access to configuration errors to regulatory compliance.
For this reason, cloud security in the financial sector requires a strategic approach that combines cutting-edge technology, regulatory compliance and access control at every level.
Key findings
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Financial institutions must use multi-layered cloud security due to the sensitivity of data.
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The most common threats are: configuration errors, malware attacks, and lack of control over users’ identities.
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Regulatory compliance (e.g., RODO, PSD2, DORA) and auditability of systems are key.
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Solutions such as data encryption, identity management (IAM) and cloud segmentation significantly reduce risk.
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Implementation of the Zero Trust model and tools such as CSPM, SIEM and DLP is increasingly standard in the financial sector.
Table of contents
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Why the cloud in finance is a must today
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The biggest threats to cloud data security
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Regulation and compliance in the financial sector
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Technology solutions to enhance cloud security
Why the cloud in finance is a must today
With cloud solutions, financial institutions gain:
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Faster access to data and systems
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Ability to integrate with modern services (API, AI, analytics)
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Better infrastructure scaling
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Flexibility in the development of digital products and services
However, the financial sector is one of the most vulnerable to cyber attacks and is heavily regulated. That’s why the cloud must not only be efficient, but above all secure and compliant with regulations.
The biggest threats to cloud data security
Financial institutions most often face the following risks:
1. configuration errors
Poorly set access permissions to data and cloud resources can lead to data leakage.
2. lack of control over user identities
Overly broad permissions or lack of user segmentation results in the risk of abuse.
3 Malware and DDoS attacks
The cloud is vulnerable to modern forms of attacks – especially if there is insufficient monitoring.
4 Inadequate data encryption
The lack of data encryption at rest and in transmission increases vulnerability to interception.
Regulation and compliance in the financial sector
The financial sector must operate in compliance with many regulations, both domestic and international:
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RODO – personal data protection
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PSD2 – security of electronic payments
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DORA – digital resilience of financial institutions in the EU
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KNF, EBA, ISO 27001 – local and industry security standards
The cloud must support mechanisms such as:
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Full auditability of administrators’ and users’ actions
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Identity and access management (IAM)
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Encryption of data and keys
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Secure APIs and vulnerability testing
Technology solutions to enhance cloud security
Here are key technologies that support the security of cloud environments in finance:
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IAM (Identity & Access Management) – identity management and access control
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MFA (Multi-Factor Authentication) – additional verification of users
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DLP (Data Loss Prevention) – protection against unauthorized data sharing
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SIEM (Security Information and Event Management) – monitoring and detection of incidents
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CSPM (Cloud Security Posture Management) – detection of configuration errors and policy non-compliance
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Data encryption – protecting data at rest and in motion
Recommendations for financial institutions
To effectively secure data and systems in the cloud, organizations should:
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Implement a Zero Trust model – every access attempt must be verified
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Use MFA and IAM to manage access
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Conduct continuous monitoring and auditing of user activities
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Ensure regulatory compliance and update security policies
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Conduct regular penetration testing and risk analysis
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Choose cloud providers that offer comprehensive security mechanisms
