Capital Markets & IT -lakyara vol.276 Risk Management
FinTech exposes subcontractor management limitations
Financial institutions’ progressive push into FinTech is enlarging their networks of partners and affiliates and, in turn, increasing their exposure to external risks. Should a financial institution’s partner happen to encounter any difficulties that imperil its business continuity, the financial institution itself could be hurt at least reputationally if not financially also. Adeptness at managing all types of subcontractors is a potential determinant of business success or failure.
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Financial IT Risk Management Department