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Adopting automated policy as code in financial services.

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Implementing automated regulations as language in the finance sector

In the constantly changing landscape of financial services, maintaining adherence to rules, ensuring safety, and optimizing processes is crucial. Financial organizations face ongoing demands to handle risks, follow regulatory standards, and guarantee operational uniformity. As technology advances, the complexity of managing these obligations has escalated, rendering traditional manual methods insufficient. This is where the future of automation – automated regulations as language – becomes essential, offering a revolutionary approach to support your governance, risk management, and compliance (GRC) strategies.

Understanding automated regulations as language

Automated regulations as language empower you to impose rules regarding your Ansible automation. Policies can be enforced before, during, and after automated tasks execution without requiring manual integration into each automation job. Through coding policies, financial institutions can consistently uphold standards and diminish the risk of non-compliance or operational breakdowns. If you want to discover more about automating regulations as language, take a look at Phil Griffiths’ article Automated Policy-as-Code. Start Small. Think Big which elucidates the roadmap for implementing automated regulations as language with Red Hat Ansible Automation Platform.

Why is automated regulations as language critical for financial services?

  • Operational Reliability: Standardizing operations is pivotal in upholding the integrity and dependability of financial services. Automated regulations as language aid in streamlining processes to ensure adherence to established policies, thereby reducing the occurrence of errors and operational inconsistencies that could lead to financial repercussions or customer dissatisfaction.
  • Regulatory Adherence: Financial institutions operate in one of the most regulated sectors. Compliance with regulations such as GDPR, SOX, PCI-DSS, and others is obligatory. By leveraging automated regulations as language, organizations can uniformly enforce these regulations across all automated processes, facilitating quick issue resolutions to minimize the risk of substantial penalties and associated reputational harm.
  • Risk Control: Financial services handle sensitive and vital data. Automated policies can enforce security protocols like data encryption, access restrictions, and audit trails. By automating these checks, institutions can significantly mitigate the risk of data breaches and other security breaches.
  • Cost-Efficiency: Manual regulation enforcement demands significant resources and is susceptible to human error. The automation of regulation enforcement diminishes the need for extensive manual supervision, enabling IT teams to concentrate on strategic initiatives. Moreover, automated regulations help in managing operational expenses by mitigating issues like unregulated cloud expenditures or non-compliant resource setups.
  • Enhanced Adaptability: The financial sector is swiftly evolving, with new technologies and business models continuously emerging. Automated regulations as language offer the flexibility to promptly adjust to new regulations, technologies, and business demands. Policies can be centrally updated and applied across all automation processes, ensuring the organization’s agility and compliance in a dynamic setting.

Practical Implementation

Imagine a scenario where a financial entity leverages cloud services for various applications. Automated regulations as language can enforce regulations such as:

  • Instance Management: Limiting the varieties and sizes of cloud instances that can be generated, thus preventing unnecessary expenses.
  • Access Controls: Securing public access points and ensuring that any alterations to access controls are documented and authorized.
  • Software Deployment: Requiring that only validated and tested software versions are deployed, enhancing security and sustainability.

By enforcing these regulations, the institution can uphold a robust security posture, manage expenses effectively, and comply with industry standards.

Commencing the Journey

To kickoff automated regulations as language, financial institutions should:

  1. Identify Critical Regulations: Initiate with the most crucial regulations that impact security, compliance, and expense management.
  2. Harness Existing Platforms: Utilize tools like Red Hat Ansible Automation Platform, which will soon streamline the regulations as language process.
  3. Start Small, Dream Big: Embark on a small, manageable scope and expand gradually as you accumulate expertise and confidence.

Automated regulations as language is not only a technological progression; it represents a strategic necessity for financial services seeking to enhance their compliance, security, and operational effectiveness. By embedding regulations into automation workflows, financial institutions can navigate the intricacies of today’s regulatory environment with increased assurance and adaptability.

Join the Dialogue

Visit redhat.com/PaC to delve into our vision for a compliant, secure, and efficient future. Engage with our community on the Ansible Forum and exchange your opinions, obstacles, and accomplishments. You can also catch a replay of Phil Griffiths discussing automated Policy as Language webinar where he delves deeper into this exciting new realm.

Contact Us

If you have any queries or require guidance on how Red Hat can aid your institution in constructing a dependable, secure, and flexible application platform, get in touch with us. We are here to guide you through this transformative journey and assist your financial institution in staying at the forefront of compliance and innovation.

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