The FSB warns that BigTechs can achieve scale in finance very quickly, raising competitive pressures on incumbents. Rising dependencies on third-party services also present risks.
February 15, 2019The proposals will expand MAS' powers to impose requirements on banks' and merchant banks' outsourcing arrangements, regardless of where outsourced functions are performed.
February 8, 2019Malaysia's central bank has raised expectations on the board and senior management to ensure effective oversight and governance of outsourcing arrangements.
December 31, 2018The report identifies, describes and compares the range of observed bank, regulatory and supervisory cyber-resilience practices across jurisdictions.
December 5, 2018A new era of smart banking in Hong Kong is anticipated to begin at the end of this year with the establishment of virtual banks. Competent players will embrace enormous opportunities to challenge the city's traditional banking model.
August 21, 2018The report includes nine proposed leading principles for regulation of outsourcing to help securities, futures and banking intermediaries navigate different regulatory landscapes in Asia-Pacific.
July 24, 2018Recent FCA case highlights cost of mismanaged outsourcing. Potential IT problems are brewing for private equity GPs too as big deals systemically overlap banking system.
April 16, 2018Executive director also says regulator to develop common standard on the content and format of data required to be kept by investment firms.
April 16, 2018Banks will be urged to enhance due diligence and do more to protect data confidentiality as BNM cites risks from outsourcing to shared services.
October 4, 2017Largest banks will be required to have measures in place to survive the failure of a key service provider, according to new outsourcing policy.
September 21, 2017