RedCompass Labs Insights

7 insights on UK Regulators Operational Resilience Policy Statements

On the 29th of March 2021, the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) have issued confirmed policy statements on operational resilience. While the statements are very much aligned to the consultations published in December 2019, banks and financial services institutions will have...
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Operational Resilience: Be alert. Be prepared.

  It’s no news that the financial sector is heavily dependent on interconnected technology ecosystems. But did you know that in the first quarter of 2020, the number of large-scale cybersecurity breaches increased by 273%?
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Business Model Strategy: Prepare for the “New Normal”, Plan for Success

2020 will be remembered as the year when business models changed. The pandemic has forced all of us, including, financial services organizations, to rethink how to do business effectively. Our industry proved it can respond quickly, efficiently and empathetically to the immediate business continuity needs imposed by...
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Operational Resilience in Payments: Let the War Games Begin

2020 has so far distinguished itself as a watershed moment. It has brought massive disruption and chaos to our daily lives and order of business; but it also brought major opportunities to build a “new normal” and test organizations’ resilience. The ongoing pandemic has resulted in the initiation of Business Continuity...
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The Time to Invest in Payments Operational Resilience is NOW!

Payments ecosystems are a distinctly critical business service. If disrupted, they could cause harm to consumers, threaten the viability of firms, and/or cause systemic instability in the financial system. The ongoing COVID-19 pandemic has drastically exposed the need for assuring the Operational Resilience of these...
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