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4 key questions to be asked when considering IT outsourcing

There is a large number of financial institutions that outsource their entire IT infrastructure or specific parts of it to external partners or are actively thinking about it.
The reasons for this are often understandable:

  • Increased efficiency of own organisation and flexibility of solution and deployment
  • Cost reasons and implementation of technological development
  • Simplified compliance with existing regulatory requirements and their ongoing changes

Especially for smaller organisational units, as often found in asset management and KVGs, an external partner often seems to be the best solution.

What you should consider when choosing your outsourcing partner can be summarised in four questions to keep in mind:

-> Can your partner ensure a regulatory compliant operation within the meaning of §20 KAGB (or, if applicable, §25 KWG) and is it certified accordingly for this purpose?

The regulator has provided clear criteria for this. ISO 27001, emergency and operational concepts are only some of the keywords that are relevant in this context. 

-> Can experience and references be documented?

You certainly don’t want to be the guinea pig of your new service provider. A suitable company can point to satisfied customers.

-> Does it have the necessary size and capacity?

This question should include details such as the guarantee of the necessary service levels, suitable partner structures, physical proximity and the ease of communication with the service provider. Also keep in mind: the largest organisations are not necessarily always the most powerful.

-> What about technologically savvy employees and understanding of current technical innovations and developments?

Probably the most important question if you are thinking about moving services to the cloud, or looking at virtualisation of processes or solution concepts of providers. This has become a broad and differentiated field that requires specific know-how.

Some readers may not believe it, but we at oraïse think that we are more than a nose ahead of some of our market competitors, both technologically and in terms of service orientation.

If you are considering whether outsourcing parts of your IT or all of it could make sense, if you are interested in the topic in more detail, or if you simply want to challenge us:

Then write to us: Christoph.Kuzinski@oraise.com or Vertrieb@oraise.com. Alternatively, you can find more information at www. kait-solutions.de

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