Stricter vendor regulation not ‘magic pill’, banks say

Third parties would still require oversight from banks, even if formally regulated

Magic regulation pill

Outsourcing experts at banks say implementation of stricter regulatory standards on vendors would not affect how they manage their third-party relationships.

As largely unregulated startups enter the financial industry in growing numbers – in response to increased demand from banks for their services – regulators have begun to question whether vendors should fall under similar standards as the institutional clients they serve.

But greater regulation of third-party providers won’t reduce the bu

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: