Research from the European Banking Authority (EBA) says that the majority of EU banks believe their operational risks will increase. Many of them are pointing to to cyber risks and data security to explain why they believe this. Another large contributor they point to is outsourcing, but I wonder if these are really the same reason. Many large breaches have come from someone getting into a vendor and then making their way into the company’s systems.
https://www.finextra.com/newsarticle/31379/banks-cite-cyber-security-and-outsourcing-as-operational-risk-concerns-grow
In-house is expensive…and outsourcing is risky.
comprehensive investigation before making a deal is needed. The organization needs to consider every possibles they come up with.