Cloud services can boost big data analytics and artificial intelligence, even more so among small and medium-sized banks. Moreover, cloud service providers can better equip banks to fend off certain types of cybercrime. 2/5  BIS central bankers' speeches  Using the cloud can therefore improve smaller banks’ access to new technologies.
But nevertheless, there is a clear rule in banking supervision: you can’t outsource responsibility. Every bank has a duty to monitor and control the risks arising from an outsourcing relationship. That rule also holds true for smaller banks using the services of cloud service providers. Many cloud service providers operate internationally, have millions of customers and an enormous amount of data and money.