Bank of Italy study looks at regulating finance firms’ tech risks
European authorities’ efforts have increased sector’s operational resilience, researchers find
Financial firms’ increasing reliance on tech companies poses new risks to financial stability, a Bank of Italy study finds.
In their research paper, Emanuela Cerrato, Enrica Detto, Daniele Natalizi, Federico Semorile and Fabio Zuffranieri describe how third-party providers have enabled financial firms to improve their digital infrastructure. However, these providers fall outside the regulatory ambit under which financial firms have to operate.
This has created new operational, cyber and
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