About a-team Marketing Services
The knowledge platform for the financial technology industry

A-Team Insight Blogs

Cloud Industry Forum Joins Third Party Assurance Initiative

Subscribe to our newsletter

The Cloud Industry Forum (CIF) today announced it has partnered with the Third Party Assurance Centre (TPAC), a business assurance initiative, formed to help minimise outsourcing risks. Other industry bodies partnering with TPAC include the Information Security Forum, Cloud Security Alliance, Common Assurance Maturity Model, and the Payment Card Industry board of advisers.

A recent whitepaper collectively produced by these industry bodies entitled, “Business Assurance for the 21st Century,” highlights that third parties managing data should be asked questions about the security systems they have in place and the standards they adhere to. TPAC aims to combat security risks faced by organisations that manage third-party suppliers by introducing transparency into the supply chain.

Raj Samani, founder of the Common Assurance Maturity Model (CAMM), and chief technology officer Europe, Middle East and Africa for security firm McAfee, commented: “Organisations should create contracts which outline the level of security that they expect from their third parties, whether data is being managed in the cloud or on-premise. This way, when organisations get tenders for business coming through, they are assured that third parties are transparent about risk levels. Transparency is heavily encouraged by CIF as are contracts. We are delighted they are coming on board with TPAC to advocate best practice across the wider IT sector.”

Andy Burton, chairman of the Cloud Industry Forum commented: “CIF fully supports the initiative of providing a third party assurance framework to help establish trust online, and we see this as complementary to the CIF Code of Practice which was launched in 2010 to engender best practice within the Cloud Service Provider market by requiring Certification against the inter-dependent pillars of Transparency, Accountability and Capability. Both the CIF Code of Practice and the Third Party Assurance initiative have a common aim of providing end users with a frame of reference to make informed decisions in their use of online services. To that end we are keen to work alongside our industry peers to see if we can help make this a reality.”

A website will shortly be launched for the initiative under the following url: www.the-third-party-assurance-centre.com.

Subscribe to our newsletter

Related content

WEBINAR

Upcoming Webinar: Taming the Private Markets Data Beast: Solving for Valuation, Integration, and Reporting in Alternative Investments

Date: 7th October 2026 Time: 10:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes Institutional activity in private markets has surged as organisations’ traditional investment theses have been upended by global economic volatility, geopolitical instability and fee compression. In their search for better risk-adjusted returns, they have found a rich seam of alpha...

BLOG

Reconciliation No Longer Has Time On Its Side as T+1 Approaches

By John Bevil, senior product manager at Xceptor. Europe’s capital markets firms are entering the most consequential phase of T+1 preparation. From 11 October 2027, trades executed in European markets are expected to settle one business day after trade date, reducing the settlement cycle from T+2 to T+1. More than 4 trillion euros of securities...

EVENT

Data Management Summit New York City

Now in its 15th year the Data Management Summit NYC brings together the North American data management community to explore how data strategy is evolving to drive business outcomes and speed to market in changing times.

GUIDE

AI in Capital Markets Handbook 2026

AI adoption in capital markets has moved into a more disciplined phase. The priority is now controlled deployment: where AI can be used safely, where it can deliver measurable value, and how outputs can be governed, monitored and evidenced. The 2026 edition of the AI in Capital Markets Handbook examines how AI is being applied...