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Exclusive: How Aiven is helping businesses prepare for CPS 230
Wed, 20th Mar 2024

In a detailed conversation, Michael Coates, Solutions Architect at Aiven, shares insightful perspectives on Aiven's role in shaping the future of data management and compliance in the cloud computing landscape. Aiven, renowned for its innovative open-source data platform services, is at the forefront of facilitating organizations to fully leverage their data across diverse cloud providers. "We help organisations gain more value from their data," Coates states, defining Aiven as a hub that "combines open-source services to stream, store, and serve data, simply, securely, and on any cloud provider." This approach not only demystifies data management but also paves the way for cloud-agnostic application development, an essential feature in today's digitally transforming environments.

The impending enforcement of APRA's CPS 230 standard, effective from July 1st, 2025, signifies a pivotal shift in regulatory requirements for Australian businesses, particularly those under APRA's purview. Coates elaborates on CPS 230 as "the Australian implementation of global Basel III regulations," aimed at enhancing risk preparedness, organizational resilience, and robust business continuity planning. The essence of CPS 230 revolves around "making sure that entities are proactively setting up processes to support management and response to risk events," Coates explains, emphasizing the regulation's focus on mitigating the impacts of potential disruptions such as cybersecurity incidents and single supplier failures.

Aiven's significance in aiding organizations to achieve CPS 230 compliance is profound. Coates details how Aiven facilitates operational risk management, continuous delivery of critical operations, and effective management of service provider-associated risks. He underscores the importance of technology in managing these aspects, particularly the avoidance of single-supplier dependencies. "Aiven provides a way to run your data infrastructure in a multi-cloud environment," Coates asserts, highlighting the company's role in fostering a regulatory-compliant, cloud-agnostic operational model.

Security and compliance remain paramount challenges for organizations, more so with the complexity and diversity of today's digital threats. Aiven encounters common customer pain points such as "silos of knowledge" and the risks posed by "outdated and therefore insecure software." Addressing these challenges, Coates advocates for a managed service approach to maintain software currency and thereby bolster security—a critical consideration under regulations like CPS 234.

The conversation further delves into Aiven's tangible impact on organizational operations. Coates proudly references statistics evidencing Aiven's value proposition: "a 37% reduction in three-year operational costs," and "a 340% ROI over three years." Such metrics not only showcase Aiven's economic efficiency but also its effectiveness in streamlining IT infrastructure and security operations.

Looking ahead, Coates identifies key trends driving Aiven's managed solutions' uptake, such as AI and multi-cloud strategies. Citing a survey by IDC, he notes the critical importance of multi-cloud capabilities for Gen AI strategies, with "almost 70% of respondents" considering it important or mission-critical. This insight underscores the growing reliance on multi-cloud data platforms as enablers of advanced AI applications, highlighting Aiven's pivotal role in this technological evolution.

On best practices for FSI compliance and risk reduction, Coates offers strategic advice. Balancing compliance with time to value, ensuring data sovereignty, and avoiding vendor lock-in through open-source technologies emerge as critical themes. "You need to be choosing technologies and platforms that allow you to do both," Coates advises, pointing out the necessity of integrating compliance, risk, and security considerations seamlessly into business operations.

Michael Coates's comprehensive insights shed light on Aiven's instrumental role in navigating the complexities of cloud data management and regulatory compliance. By championing open-source solutions, multi-cloud strategies, and a proactive approach to security and compliance, Aiven is ready to support organizations aiming to excel in the modern digital landscape.