Major tech changes more likely to cause incidents - FCA

Sophie King
clock • 3 min read

Major technology changes lead to more incidents than lesser ones within financial services firms, research by the Financial Conduct Authority (FCA) has found, and the regulator said while effective risk management is an important component to success.

In a report published on Friday (5 February), the watchdog set out findings from its cross-financial services change management review, which analysed more than one million production changes implemented in 2019 by a sample of financial services companies. Each firm deployed an average of 35,000 production changes that year, which the FCA said represents significant activity highlighting the complexity of translating business into technology change. The report examined how financial firms manage technology change, the impact of change failures and the practices used in the industry to...

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