Sub Prime crisis heralded a new era of sharp focus in the compliance domain. Financial institutions worldwide suffered losses of over $300 billion due to compliance-related fines and damages. Since then, compliance has become mainstream for businesses, irrespective of their scale.

With new standards and regulations popping across the globe,McKinsey's report indicates that most C-Suites still feel less confident about their control of compliance risk. The reason they say is the "Incoherence in the overall effective organizational approach and weak business ownership of compliance" (Survey, 2018).

Since 2008, institutions started investing heavily in compliance, without really seeing the desired end product, as standards and regulations need their own time to catch up with the latest business approaches. The shifting focus on "Efficiency in Compliance" has become the new norm.

The first step is to create a baseline, McKinsey's "Compliance Benchmarking" of 22 leading institutes across Asia, Europe, and North America in 2017, followed by 24 institutes in 2018 of Global Systemically important (G-SIBs) and non-G-SIBs both participating led to the following inferences. 

More quickly than most people realize, the scale and seriousness of the cyberthreats companies face have changed. Many of the most expensive cybercrimes are growing now by triple digit percentages every year, with no end in sight.

Why the underworld interest? Part of the reason is the same one the American bank robber Willie Sutton gave when asked why he robbed banks: because that’s where the money is. Over half the world’s population is now online, and their economic and social lives are now deeply connected to the Internet: the combined value of Facebook, Google, Amazon, and Apple stock is now greater than the Gross Domestic Product of France.

The blog describes how next-gen data center can evolve its security parameters and eliminate its vulnerabilities that exist in the Hybrid Cloud Model.