Cloud services: Outsourcing the service, but not risk
Banks must have strong risk-management practices in place when using third-party cloud service providers, starting with contract language.
Tag: Third-party risk
OCC: Cyber threats to financial institutions remain elevated
The federal banking sector remains sound, although banks’ operational risk remains elevated as evolving cyber threats target the financial services ...
Federal report outlines potential risks to U.S. financial stability
The U.S. banking system remains resilient but there are pockets of potential vulnerability that need continued monitoring, such as in ...
FDIC extends comment period on proposed bank-fintech recordkeeping requirements
The FDIC extended the comment period for a proposed rule to establish new recordkeeping requirements for banks that enter into ...
More partners, more risk, more oversight
Education and expertise demands rise for boards amid growing oversight expectations for BaaS and fintech partnerships and other third party ...
Report: FDIC considering recordkeeping requirements for bank-fintech partnerships
The FDIC is drafting a proposed rule to require banks to maintain ledgers of “for benefit of” accounts opened by ...
Basel Committee: Permissionless blockchains pose ‘novel’ risk challenges for banks
Banks that engage in digital asset transactions face risks that may require new approaches to risk management, according to a ...
Optimizing third-party risk
Third-party risk oversight is only getting more intense. Here’s how to keep up.
Fed’s Barr: Lack of third-party risk control can harm financial inclusion
Banks play a pivotal role in innovating to serve low- and moderate-income households, sometimes in partnership with financial technology companies, ...
The renewed focus on third-party risk management for banks
FDIC reminds banks that the competitive edge from partnering comes with caveats.
