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By Onur OZDEMIR, Director, Risk Advisory Deloitte Tax Consulting
Operational resilience has never been higher on the agenda for financial services leaders and regulators. The COVID-19 pandemic and its effects on economic and social activity are testing the financial sector in many ways and accelerating discussions regarding operational resilience.
One of the key elements of operational resilience is, using the European Supervisory Authorities’ (ESAs) terminology, information and communication technology (ICT), more commonly known as information technology (IT). Financial institutions are embracing large scale digitali- zation, and increasingly relying on ICT for information processing and analysis, and reengineering operations. The...
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