Firms across the trading cycle are placing a greater focus on the operational resilience of their front office technology infrastructure, according to a recent Acuiti report. Of those surveyed, 61% cited this as a “major priority”, with a further 32% naming it as their “top priority”.
Regulatory compliance emerged as the top challenge for firms in this space, with the EU’s Digital Operational Resilience Act (DORA), which must be complied with before 17 January 2025, a key influence. This was followed by the level of investment required and the process of agreeing and implementing internal processes and workflows.
Some firms may reduce the number of tech vendors they partner with following reviews of third-party relationships, the report suggested, but warned that this approach could increase vulnerability to failures and outages as organisations become reliant on limited vendors.
As a result, firms will need to ensure that they have sufficient back-up for their front office systems. Currently almost three quarters (74%) of those surveyed have a functional back-up system in place, according to Acuiti’s survey, but 11% do not – and have no plans to do so.
©Markets Media Europe 2024
