Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin), also known as the Federal Financial Supervisory Authority, is an autonomous public-law institution formed to ensure the proper functioning, stability, and integrity of the German financial system. BaFin is responsible for the supervision of all banks, credit institutions, insurers, funds, and financial institutions in Germany.
In support of all of our German customers operating within the financial services space, Atlassian is dedicated to helping them navigate these regulatory requirements at the national level with BaFin and at the regional level with the European Banking Authority (EBA). These requirements, like the majority of security and compliance protocols, are a shared responsibility between the outsourcing vendor (cloud service provider) and financial institutions in Germany to assess whether they are abiding by the regulatory standards set by BaFin.
Our BaFin outsourcing guidance offers specific mappings to each requirement and how we assist you in meeting your obligations, including information on audit rights, the right to issue instructions, data security, termination, and chain outsourcing. To learn more about our commitment to safeguard customer data, visit our Security Practices page.
For more information, contact us.