Pleased to see the FCA have not identified significant concerns during their thematic review of banks’ use of outsourcing. Ascent was proud to support a number of our clients during this review and the outcome is testament to the strong working relationship and governance arrangements we have in place together.
Banks and Building Societies Outsourcing We have completed a review of retail banks’ use of outsourcing. The potential types of harm arising from outsourcing include service disruption (impacting consumers’ access to products and services) and poor customer service. We focused on firms’ approaches to outsourcing and did not test whether these are mitigating the risk of harm in practice. Overall, we did not identify significant concerns.
https://www.fca.org.uk/news/newsletters/regulation-round-september-2018
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