The outsourcing of IT services plays an increasingly important role in the banking industry. Earlier this year, the European Banking Authority (EBA) issued new guidelines on outsourcing, which pose novel obligations and challenges for banks and other institutions.
On 15 may 2019 SVLAW held an Info-Breakfast on IT outsourcing at the Austrian Banking Association (Bankenverband) in Vienna. During the event, Oliver Völkel, Bryan Hollmann and Andreas Pfeil provided an overview of key aspects of the EBA Guidelines, discussing in particular:
- Content of outsourcing agreements
- Purpose and scope of the outsourcing register
- Due diligence
- Risk management
- Internal governance
- Supplementary national standards
After the presentations, the team from SVLAW fielded questions from the audience, which led to an engaging discussion. SVLAW is pleased to have participated in the event.