Technology Risk Management Services
The digital age is here. Embracing the opportunities on offer is the only way to stay competitive. IT systems are a fundamental part of your organisation and you – and your customers, shareholders and regulators – need to trust it.
Trust means that:
• your customers will buy your products on-line and have confidence you’ll keep their data secure
• your suppliers know your systems won’t fail them
• you have the confidence to move your business forward by embracing technology and the opportunities it has to offer.
With trust in your data and security, with resilience built into your systems, and with the knowledge that your digital transformations will succeed, you’ll have the confidence to embrace your digital future, and enjoy the exponential impact it has on your growth.
While outsourcing arrangements can bring cost and other benefits, it may increase the risk profile of an institution due to, for example, reputation, compliance and operational risks arising from failure of a service provider in providing the service, breaches in security, or the institution’s inability to comply with legal and regulatory requirements.
An institution can also be exposed to country risk when a service provider is located overseas and concentration risk when more than one function is outsourced to the same service provider.
Outsourcing does not diminish the obligations of an institution, and those of its board and senior management to comply with relevant laws and regulations, it is thus important that an institution adopts a sound and responsive risk management framework for its outsourcing arrangements.
Companies are looking to become more agile so they can innovate and respond to change faster. This requires a different kind of application than what was common years ago. Applications now need to scale quickly to potentially millions of users, have global availability, manage petabytes if not exabytes of data, and respond in milliseconds.
We call these modern applications, and they cover use cases from web and mobile backends, IoT applications, AI/ML workloads, batch processing, PaaS solutions, microservice backends, and more.
Modern applications are built with a combination of these new architecture patterns, operational models, and software delivery processes, and they allow businesses to innovate faster while reducing risk, time to market, and total cost of ownership.