3min chapter

The ECB Podcast cover image

Supervising banks in times of war, high inflation and interest rate hikes

The ECB Podcast

CHAPTER

The Risks of Digitalization for the Banks

The cyber attacks have become a major challenge for the banks and for the operational resilience of the banks. I think one concern which Kirsten already mentioned is the outsourcing of some of the critical services. Here what we have seen is that there are an increasing number of activities that banks are outsourcing outside. And while this is to some extent a natural evolution given the complexity of the banking business, it also requires that there are in place enough controls.

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