Anecdotes <> Google Cloud Partnership: Overview for Banking and Financial Services


Transforming compliance for Financial Services

In today’s financial landscape, where regulations like DORA (Digital Operational Resilience Act), NYDFS (New York Department of Financial Services), and NIS2 (Network and Information Security Directive 2) are reshaping how institutions approach risk and compliance, Anecdotes, built on Google Cloud, stands out as a critical partner. Together, we offer financial institutions a solution that not only meets these stringent regulatory demands but also drives operational efficiency and strengthens resilience. This brief highlights how Anecdotes and Google Cloud empower financial services organizations to navigate these complex regulations with precision, control, and real-time risk insights.

Navigating regulatory complexity: Why financial institutions must adapt to survive

Financial institutions are under increasing pressure to comply with a growing number of complex regulations. DORA emphasizes operational resilience in the EU, NYDFS imposes rigorous cybersecurity requirements in the U.S., and NIS2 broadens the scope of critical infrastructure protection across Europe. These regulations demand a comprehensive and integrated approach to governance, risk management, and compliance (GRC).

Without the right tools, financial institutions risk non-compliance, operational disruptions, and significant penalties. The need for automation, real-time insights, and effective third-party risk management has never been greater.

How Anecdotes and Google Cloud Address Key Regulatory Demands

Data Delegation and "Bring Your Own Bucket" (BYOB) Technology:

Precision and accountability

Anecdotes automatically collects raw data from your organization's tech stack and standardizes it for GRC use, all while preserving data integrity. With Anecdotes' powerful analysis tools and customizable automation, the data can be mapped to any GRC use case, helping teams identify gaps, confidently verify compliance, and scale their GRC program with ease. This is crucial for meeting the detailed requirements of regulations like DORA, which Marina Kaganovich highlights as essential for ensuring that “financial institutions, particularly digital ones, must have robust IT and cyber controls to avoid operational failures that can jeopardize national and international critical infrastructure.”

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Data control and security

Anecdotes' Data Delegation solution allows customers to keep their raw data and sensitive information within their own cloud environments while enjoying the full capabilities of the Anecdotes GRC platform. The platform serves as a processing engine, ensuring the data remains entirely within the customer’s perimeter, giving them full ownership and control. Customers can choose to store all or part of their data in their environment for added flexibility and peace of mind. With "Bring Your Own Bucket" (BYOB) technology, financial institutions maintain full control over their sensitive data, ensuring compliance with stringent security standards, such as those mandated by NYDFS.

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Automation and efficiency

Streamline operations

Anecdotes automates repetitive compliance tasks, reducing manual effort and operational overhead, which is critical when dealing with the detailed and prescriptive nature of regulations like NIS2.

Increase productivity

Financial institutions can achieve higher accuracy and efficiency through advanced automation, helping them stay ahead of regulatory changes and maintain continuous compliance.

Cross use case efficiency

Anecdotes’ patent-pending automated cross-mapping allows you to enjoy “use once apply to many” giving you the flexibility to tailor data for each specific use case. This approach saves time and improves accuracy.

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Data-driven compliance management

Actionable insights

By using Google Cloud’s BigQuery, Anecdotes provides powerful analytics that drive informed decision-making. This capability is crucial for meeting evolving regulations like DORA, which require financial institutions to demonstrate operational resilience and effective incident response. With custom rules continuously testing your up-to-date data and alerting you to any gaps, you can effectively monitor your GRC program and ensure continuous compliance.

Integrates with existing stack

Easily connect your tech stack to Anecdotes’ least privilege integrations for automated collection of all GRC-relevant system data. Anecdotes is the only solution on the market with 100% proprietary integrations, unlike other solutions which send your data through third parties. 

Seamless collaboration with Google Workspace

Anecdotes integrates seamlessly with Workspace, enabling teams to collaborate in real-time, access critical compliance data, and streamline reporting processes across the organization. This integration ensures that financial institutions can maintain transparency and efficiency in their compliance efforts, particularly when facing the stringent demands of regulations like NYDFS and NIS2.

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Continuous compliance

Real-time visibility and 100% control

Anecdotes delivers a unified dashboard that offers a comprehensive view of your organization’s compliance status and risk posture. With Anecdotes’ Evidence Lab, financial services companies can automate the collection of custom evidence tailored to their specific needs, ensuring both audit readiness and accuracy.

Regulatory adherence

Anecdotes ensures that financial institutions remain compliant with evolving regulations through continuous monitoring and automated compliance checks. As Kenneth Morris from Plaid emphasizes, 

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Real-time monitoring

Institutions benefit from real-time monitoring of compliance status, with automated alerts that identify and mitigate risks before they escalate.

Financial institutions using Anecdotes on Google Cloud have reported significant improvements in their compliance processes, including a 30% reduction in compliance gaps and a 25% increase in operational efficiency. These results demonstrate the effectiveness of Anecdotes’ solutions in meeting the stringent demands of regulations like DORA, NYDFS, and NIS2.

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