FCA report outlines practices firms can consider to reduce consumer harm caused by failed technology changes

Regulatory Updates | 05/02/21

A FCA document explains the findings from its cross-financial services change management review which examined how financial services companies manage information technology (IT) change, the impact of IT change failures and the practices utilised to help reduce the impact of incidents resulting from change management. Key findings involve that failed technology changes are one of the main causes of operational disruption and changes made by firms with strong governance and risk management strategies are more successful.