Regulatory impact of ASFI’s 'No objection' process on cloud computing adoption in the bolivian financial system: a critical Analysis of the financial regulatory Framework
DOI:
https://doi.org/10.71112/hjtk7052Keywords:
Cloud computing, financial regulation, ASFI, cybersecurity, PRISMA, Shared Responsibility Model.Abstract
This study analyzes the impact of the “No Objection” requirement, established in the Regulation for Information Security Management for Financial Services of the Financial System Supervisory Authority (ASFI), on the adoption of cloud computing infrastructures in Bolivia.
The research was conducted through a systematic literature review following the PRISMA 2020 protocol, analyzing 28 scientific articles indexed in Scopus, Web of Science (WoS), and IEEE Xplore published between 2016 and 2026.
The results reveal tensions between regulatory demands related to auditing, data sovereignty, and ex-ante risk assessment versus the Shared Responsibility Model implemented by cloud providers. Furthermore, it highlights operational incompatibilities between ASFI's contractual requirements and the standard form contracts of international providers that lack local offices in Bolivia. Ultimately, these factors limit the competitiveness of regulated entities compared to FinTech ecosystems that face lower regulatory barriers.
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