Company
Date Published
Author
Nik Jain
Word count
1056
Language
American English
Hacker News points
None

Summary

The Australian Prudential Regulation Authority (APRA) aims to ensure the resilience of organisations it regulates against operational risks by revising Prudential Standard CPS 230, effective from July 2025, with some provisions applying from July 2026. The revision encourages banks, mortgage lenders, and insurance firms to enhance risk management to maintain service availability and safeguard personal information. By leveraging unified observability, these organisations can better understand and mitigate risks through real-time insights into their IT environments, facilitating compliance with APRA's requirements, such as reporting operational failures within 72 hours. This proactive approach not only reduces operational costs and prevents incidents but also boosts customer confidence. As the financial industry adapts to cloud-based systems, the application of observability and predictive AI becomes essential in navigating the increased complexity and ensuring continued compliance, ultimately fostering customer trust and loyalty.