Accessing Innovation: Shadow IT and Fintech

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Accessing Innovation: Shadow IT and Fintech

Advisor
Posted March 1, 2017 in Cutter Business Technology Journal

Cloud and SaaS provide important potential advantages to financial organizations. But while “light-touch” SaaS applications may entice professionals in the short term, such arrangements have the potential to create serious regulatory problems, which may in turn cause considerable overheads as well as costly fines and reputational damage. Consequently, in the medium to longer term, SaaS arrangements — shadow or otherwise — may prove to be anything but light-touch for CEOs, CIOs, heads of regulated business units, and compliance and risk managers.