Technology is at the core of the financial services industry, acting as an enabler for innovation, shorter time-to-market, improved customer experience, operational efficiencies and regulatory compliance. 

Business models, as well as the products and services offered by the financial services sector, are shaped by several factors including greater significance of data, analytics, risk management, compliance, security, digitisation, enterprise mobility, payments and enhanced customer experience. 

This digital transformation is contributing towards more innovative products and services to the benefit of consumers and the market at large.

License Holders are expected to establish and maintain an operational governance framework according to applicable Acts, Regulations, rules and sector-specific guidelines.

 ICT governance and risk-mitigation are an intrinsic part of such governance frameworks.

Our IT audit team can assist compliance with: 

• EBA Guidelines on ICT and Security Risk Management
• The Guidance issued by the MFSA on technology arrangements. ICT and Security risk management and outsourcing arrangements which is largely based on the aforementioned EBA Guidelines. 
  
  

Our firm can also advice and assist on:

• The implementation of the EBA Guidelines on the use of Remote Customer Onboarding Solutions (Article 13(1) of Directive (EU) 2015/849) relevant to financial and payment institutions.