In today’s digitalisation landscape, banks embrace more third party engagements to achieve straight through transactions and enhance customer experience. While these partnerships are vital for business success, they also introduce new risks that banks must address.
In the wake of recent events, a concerning surge in third-party incidents has emerged affecting numerous bank services across the world. The reverberating consequences of these breaches have underscored the urgent need for institutions to rethink Third Party Risk Management in their organisations.