Outsourcing falls within the meaning of the Swiss Financial Market Supervisory Authority Circular 2018/3, when an institution mandates a cloud service provider to perform all or part of a function that is significant to the company's business activities independently and on an ongoing basis. Such significant functions include the following:

• Data storage, if data storage is the function to be outsourced and the information stored are relevant for supervised activities
• Operation and maintenance of databases
• Operation of information technology systems