By Porter Wright on Financial institution executives with responsibility for the management of the technology of their financial institutions or their institution’s relationship with technology service providers (TSPs) should become familiar with the updated guidance regarding supervision of TSPs by financial institutions that was issued on October 31, 2012 by various federal banking regulatory agencies. The issuance updates material that is nearly ten years old. The … Continue Reading
By Porter Wright on Financial institutions should apply the same risk management strategies and considerations to outsourced "cloud computing" activities as are required with more traditional forms of outsourcing, according to a statement issued July 10th by the Federal Financial Institution Examination Counsel (FFIEC). The FFIEC’s statement explains that while there is no universal definition of "cloud computing," it … Continue Reading