Operational resilience and its role in protecting customers, markets and the enterprise has come under intense scrutiny as global COVID-19 lockdowns have challenged established business continuity plans and other contingency strategies.
Large scale cyberattacks, data outages, supplier process failures, disrupted commutes, terror incidents, extreme weather events or pandemics - all have to varying degrees disrupted the ability of financial services firms globally to provide their customers with the expected level of service and support.
At the same time, the financial ecosystem is becoming ever more complex due to greater outsourcing, wider adoption of cloud computing and the emergence of fintechs across more points within the value chain. These factors also increase the potential for disruption to services. At the same time, firms must address enhanced expectations from customers and regulators alike.
Operational resilience is a critical lever to managing these pressures effectively. The underlying assumption behind operational resilience is that crisis situations will inevitably occur, and that a planned and managed response should be in place to kick in immediately when they do.
For financial services firms, it is no longer a question of ‘if’ - but ‘when’.
Capco’s Operational Resilience offering includes: