target audience: TECH BUYER Publication date: Jan 2023 - Document type: IDC PlanScape - Doc Document number: # US47801521
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.