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Managing mobile banking vendors

We use a solution provider for our mobile application. Does the new mobile financial services guidance require our vendor to enhance security to meet expectations?

As with any outsourced product or service, compliance is the responsibility of the bank. You can outsource a function, but if the outsourced product or service doesn’t meet expectations, it’s your responsibility. Through contracts you may have some recourse against your solution provider for non-compliance, but it’s in your bank’s best interest to measure your solution provider’s services and security to ensure expectations are met.
Learn more about Rayleen Pirnie’s webinar Mobile Services Risk Management

First published on 09/11/2016

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