It is fair to say that while we see some good practices, both in incumbent banks and challengers, we also continue to see significant issues. Strong Foundations There remains a need for substantial investment in Irish banks’ technology and data capabilities. Many banks still use outdated and fragmented IT systems. The foundations are not yet sufficiently strong to effectively manage the technology risks.
Delivering for your customers requires that your systems and data are available, reliable and secure. You must continue to strive to reduce the frequency and impact of issues and have an ability to recover quickly from them. Operational resilience is critical.