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Outsourcing Risk & Strategies - SBP Regulatory Guidelines
Outsourcing Risk & Strategies - SBP Regulatory Guidelines

Banks are increasingly using third party services to carry out activities, functions and processes as outsourcing arrangements to meet new & complex challenges like innovation in technology, increasing competition, economies of scale and improvement in quality of service to clients (i.e., customers, depositors or investors).

Banks are increasingly using third party services to carry out activities, functions and processes as outsourcing arrangements to meet new & complex challenges like innovation in technology, increasing competition, economies of scale and improvement in quality of service to clients (i.e., customers, depositors or investors). The practice, however, can increase their dependence on third parties and consequently their risk profile. In order to allow the licensed institutions to effectively manage the outsourcing arrangements, the guidelines have been formulated to ensure that they are able to meet their financing and service obligations. These guidelines, however, in no way encourage outsourcing, especially the performance of core banking functions. 
 The licensed institutions, while deciding to outsource any function, should ensure that outsourcing should not reduce the protection available to depositors or investors nor be used as a way of avoiding compliance with regulatory requirements. It will be responsibility of the licensed institutions to continue to satisfy all regulatory/legal requirements issued to them from time to time, while entering into any outsourcing arrangement.

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