Fintech Compliance and Your Online Business

Sami Torres11 Jul, 2024Other

Managing potential legal and regulatory aspects of outsourcing could impact legal risks and ICT outsourcing, when considering data protection issues in outsourcing or mobile payment processing. One area that could affect legal and Fintech compliance risk and the broader operational risk profile is the final contract to be discussed and agreed upon between an institution and a cloud service provider, which should meet the requirements of relevant regulatory frameworks. A suitable and appropriate contract management process will be essential to address sensitive issues such as the right to audit of the institution and the supervisory authority.