Wavelength Podcast Ep. 182: Third-Party Resiliency & Regulatory Pressure
Wei-Shen and Tony discuss third-party and vendor concentration risk.
Wei-Shen Wong, Asia Editor, and Anthony Malakian, Editor-in-Chief of WatersTechnology, record a weekly podcast touching on the biggest stories in financial technology.
To hear the full interview, listen in the player above, or you can download it.
This week, Tony and Wei-Shen talk about third-party resiliency and how systems are increasingly interconnected. They also look at how disruptive outages and vulnerabilities are to the industry and the implications on systemic risk.
1:00 – Tony starts by talking about how new laws in Europe will require fintech firms to scrutinize their control frameworks to deal with system failures.
3:30 – The challenge of understanding third-party and fourth-party vendor relationships.
5:00 – They delve into the complexities of validating their relationships with third-party vendors, and beyond.
7:00 – This is where the fight begins. How much will vendors push back on revealing potentially sensitive and proprietary information to the regulators?
9:30 – If regulators are asking firms to adopt multi-vendor strategies, what are the cost implications?
13:00 –Tony and Wei-Shen then talk about how it’s the small errors that lead to major blow-ups, and how monitoring that is a huge challenge.
17:30 – They wrap up the podcast discussing their favorite Oscar-nominated films, who deserved to win, and what’s next on their watch list.
Contact Info:
As is the case with everything we do, we'd love to get some feedback from our listeners.
Wei-Shen Wong: + 852 3411 4758; wei-shen.wong@infopro-digital.com
Anthony Malakian: + 1 646 490 3973; anthony.malakian@infopro-digital.com
Past 10 episodes:
Episode 172: Buy-Side Trading & Automation
Episode 173: Hadoop, Data Warehousing
Episode 174: Previewing Waters USA
Episode 175: Tradeweb's Billy Hult
Episode 176: Data Hungry AI; Women in Data
Episode 177: Data Implications of 5G & IoT
Episode 179: Deepfakes and the Capital Markets
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