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Solutions to support PRA SS2/21 requirements for cloud software

In a SaaS environment, security, data, and the infrastructure are all outside of the financial institution’s control. Cloud Escrow arrangements enable PRA-regulated firms to rebuild the production environment of its third-party provider’s SaaS application and restore critical data quickly and efficiently.

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Cloud Escrow solutions support compliance with PRA SS2/21 requirements to:

  • Implement a business continuity plan for third-party SaaS applications that enables firms to anticipate, withstand, respond to, and recover from severe but plausible operational disruption.
  • Document and test a stressed exit plan third-party SaaS applications that enables firms to bring data, function, or service back in-house or transfer to an alternative back-up service provider.

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