IDC PlanScape: Digital Operational Resilience for Financial Entities

IDC PlanScape: Digital Operational Resilience for Financial Entities

The digital transformation of the financial industry has led to a highly interconnected and interdependent ecosystem, entailing a systemic risk across the industry. The underlying concept that led regulators to establish direct control on financial entities as well as their third-party ICT and cloud service providers is that no single financial organization can operate as an independent entity in the digital era. The Digital Operational Resilience Act is a game-changer in risk management; it drives joint responsibility that can make or break the relationship between a bank and its ICT partners, said Maria Adele Di Comite, research director, IDC Financial Insights.

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