{"id":6313,"date":"2021-12-20T11:35:26","date_gmt":"2021-12-20T10:35:26","guid":{"rendered":"https:\/\/www.actonic.de\/die-atlassian-cloud-wird-bafin-konform\/"},"modified":"2023-03-31T08:45:33","modified_gmt":"2023-03-31T06:45:33","slug":"atlassian-cloud-goes-bafin-compliant","status":"publish","type":"post","link":"https:\/\/actonic.de\/en\/atlassian-cloud-goes-bafin-compliant\/","title":{"rendered":"Atlassian Cloud goes BaFin compliant"},"content":{"rendered":"

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EBA, BaFin and the problem with the cloud<\/h3>\n

To understand the added value of Atlassian’s update, let’s first understand the issues that have been bothering many companies in Europe so far. Within the European Economic Area, the EBA ensures that data protection guidelines are met. BaFin is a national financial market supervisory authority in Germany and is one of the strictest in the world. Although end-users are benefitting from it, the regulations result in difficulties for organizations that want to work with the Atlassian Cloud.<\/p>\n

Although cloud services can be set up internally, the EBA and BaFin see the services as outsourcing. As a result, they must be supervised equally to other internal services<\/span>. This is the only way to ensure data protection beyond the affected institution.<\/p>\n

Until recently, however, EBA- and BaFin-regulated companies were unable to use cloud products in a way that met the strict guidelines.<\/p>\n

Time for some innovation, right?<\/p>\n

Atlassian’s solution for cloud compliance with EU FSA<\/h3>\n

On December 6th, 2021, the long-awaited update arrived: an EU Financial Services Addendum (FSA). This is an update to the order processing agreement (AV) or DPA (data processing addendum)<\/a>. The new version also establishes control over the location and processing of data in the Atlassian Cloud. Customers are also granted extended control permissions to comply with EBA and BaFin guidelines. This update will finally enable regulated companies in the financial or insurance sector to use Atlassian’s Cloud<\/span> products in a fully EBA and BaFin compliant manner. Furthermore, guidelines from the US and Australian market are also met, making the EU FSA lucrative for an even wider range of institutions worldwide. Currently, the solution includes all cloud<\/span> products in the Enterprise plan.<\/p>\n

The benefits of the EU FSA for end-users<\/span>:<\/strong><\/p>\n