The Three Key Resilience Risks Often Missed in Strategy Talks

Joining the FinextraTV studio, Wayne Scott, Global Regulatory Compliance Lead, Escode described the things that underpin a resiliency discussion, growing in complexity. Scott explained how many have some idea about how to protect their software from harm, but are missing a strong focus across supply failure, service deterioration, and concentration risk. When going further into the top of concentration, Scott spoke about how leaders often use the adage 'too big to fail’ but have underestimated that many are too big to save. He said this is why resiliency is so crucial and described how, while some carry commonalities, global regulation is also extremely different. Scott defines these differences by explaining how the UK, India, Saudia Arabia, US and Switzerland approach regulation and what this might mean for finding the correct approach. At the centre of all of this, Scott emphasises the clear and evidential important of Escrow when reducing exposure and third-party risks. For all your fintech-related news, please visit https://www.finextra.com