AppTech Payments Corp. (AppTech) (NASDAQ: APCX), an innovative Fintech company powering seamless, omni-channel commerce between businesses and consumers, today announced two strategic new hires to expand its leadership team and enhance company operations. Deborah Hinderstein has joined AppTech as Vice President of Payment Operations along with Alexander Amaeze as Technical Product Manager. Each brings substantive experience in the payments industry that will support product development and management to deliver flawless customer experiences to scale partner brands for AppTech.

Deborah will lead and manage all payments operations for AppTech’s business lines. This includes oversight of the payments operations team supporting partners across merchant acquiring as well as issuing and ensuring payments are processed and managed within established service level agreements. Deborah joins AppTech with over 15 years of leadership experience at companies like Bank of America Merchant Services, Wells Fargo, WorldPay and MerchantE. Her experience includes managing all facets of the business, from sales, relationship management, product, project management and operations.

In his role, Alexander will be responsible for creating data-driven business and technology strategies to achieve operational objectives and guide the team to delivery of AppTech’s product platform Commerse. Alexander has over fifteen years of experience in product management spanning leading companies, such as Xfinity/Comcast, AT&T, Toyota Financial and Capital One.

“We are thrilled that Deborah and Alexander are joining our talented team. Both of these accomplished individuals bring expansive knowledge and experience that will strengthen AppTech’s leadership team and accelerate speed to market of our product platform Commerse,” said Luke D’Angelo, CEO and chairman at AppTech. “Their combined deep understanding of our industry will be integral to AppTech’s mission of delivering a better way for businesses to provide their customers with customizable, immersive commerce experiences.”

Commerse is a cloud-based Commerce Experiences-as-a-Service ("CXS") platform backed by AppTech’s mobile commerce patents, core partner technology and other related internal intellectual property. CXS solutions incorporate PaaS, BaaS, Data, AI/ML, MarTech and other features to create flexible, rich, personalized payment and banking experiences for end users. The “One Platform. All Commerce.” tagline succinctly describes how Commerse seamlessly delivers digital banking and accepting digital payments, including credit card issuance of physical and virtual cards from credit card and alternative payment processing services such as text-to-pay, to cross-border payment capabilities, all facilitated by a single trusted ecosystem.

Iliad Solutions, a worldwide leader in payments testing, is pleased to announce the appointment of Lisa Forsythe, as Customer Success Manager, supporting its growing financial services client base. She brings over 14 years industry experience gained at TSYS, a Global Payments company.

Based in the US, Lisa will play an integral role in developing Customer Success for Iliad’s international clients. As part of the business’ wider operational team, she will have direct accountability for driving success into Iliad’s long-term relationships, along with ensuring high retention rates and customer loyalty.

Lisa will help Iliad’s clients realise a great return on investment through sharing of platform best practice and providing system expertise. She will have direct responsibility for identifying revenue protection and expansion opportunities whilst providing ongoing account management for existing customers. She will also be responsible for ensuring internal standards and processes are met leading to customer retention, customer expansion, customer recommendation and ease of doing business with Iliad.

Iliad Solutions’ COO Jill Pyper comments: “As the business continues to deliver a world-leading electronic payments testing, QA & certification solution to increasing numbers of the world’s major financial services businesses, it’s important to bring in dedicated personnel with a good payments background to support this growing customer base.

We are delighted that Lisa has joined Iliad Solutions. Our aim is to ensure we continually develop best working practices and provide delivery excellence for all our clients. This latest hire shows our desire to increase Iliad’s international footprint and to support our clients in the best way possible.”

Tonga Development Bank (TDB), the longest-serving bank in the Kingdom since 1977, today announced that it has chosen European paytech BPC to be its HA’AMO 2 (solution partner), helping to accelerate digital transformation in the Polynesian banking sector.

Using BPC’s SmartVista Platform, TDB will be able to issue Visa Debit as a first step in the overall modernisation of its payments infrastructure. It will also be using SmartVista for payment and card management, fraud prevention, 3D Secure, and Interfaces to Visa.

A geographically remote archipelago, Tonga sees half of its roughly 216,000 citizens currently residing abroad. As overseas Tongans transfer remittances home to their families, income from remittances is estimated to be about the same as total GDP.

Remittances take the form of cash and material goods, such as appliances and clothing, and play a crucial role in the Tongan economy, as the nation has few exports, with unemployment being common in rural areas. 

While Tonga is the latest country served by BPC in the archipelago, the move marks an important milestone for BPC’s position in Polynesia and the Pacific Islands in general and aligns with its vision to enable digital adoption across the globe. 

Commenting on the partnership, Mrs ‘Emeline ‘Uheina Katoa Tuita of Pangai CEO of TDB said:

“As an important part of Tonga’s economic ecosystem, we are proud to be welcoming in new generation technology and leading the way when it comes to digital adoption. With BPC, we are partnering with a force that will help catalyse our digital transformation and bring about a banking experience that customers have not seen before. ”

Angelo Bertini, SVP, BPC said: “We are proud to partner with Tonga Development Bank to accelerate the Pacific's economic, social and environmental development, especially as the region recovers from the impact of the COVID-19 pandemic. We aim to help them lead the way in seamless and flexible banking in this part of the world, creating a high-quality banking experience for their customers.”

The bank is uniquely placed to catalyse digital transformation in the region as it plays a crucial role in promoting Tonga’s economic and social advancement. With an extensive network of branches in the main centres, it already plays a vital role in lifting financial inclusion among the Tongan community. 

Their microloan products have helped boost small business initiatives and savings in villages. As the longest-running provider of microloans in the Polynesian nation, TDB has helped facilitate the development of critical economic sectors in the country, particularly small-scale farming and handicraft-making. 

TDB has selected SmartVista for its user experience design and the flexibility to customise products to suit the bank’s specific needs without the need for coding or additional investment. Easy to use, SmartVista can be seamlessly integrated using APIs with other third-party systems. 

It provides the tools required for the bank’s operations team to manage and monitor critical systems effortlessly. At the same time, the end customer gets a hyper-personalised experience that is hard to replicate with other providers.

For over 25 years, BPC has been at the forefront of the digital revolution, serving over 350 financial institutions in over 100 countries with state-of-the-art banking and payment solutions. Their SmartVista Platform offers modules that can be used as microservices for full end-to-end banking and payment experience or as a standalone.

People across the UK are continuing to buy physical presents such as toys and clothes for children, despite parents, family and friends all agreeing they’d prefer to give money, new research has found.

Sixty-one per cent of UK parents with children under the age of 18 said they would prefer friends and family members – such as grandparents – to cut down on physical present buying, with a similar proportion (60%) seeing it as wasteful to receive gifts their children quickly grow out of.

While half (50%) of family and friends would also prefer to give money, they worry it is too impersonal compared to physical gifts. Nearly two-thirds (61%) would rather contribute financially to major milestones such as a first car or university over a throwaway gift. As well as this, 43% would gift money more regularly if they knew it could only be accessed once the child became an adult, underlining the desire to have a meaningful impact on a child’s life.

The research – commissioned by Nosso, an app-based provider of investment accounts for families – highlights the awkward sentiment that many feel when giving money over physical gifts, despite a significant number of parents, family and friends all seeing it as preferable.

To overcome this, Nosso has launched its new gifting service, the first of its kind in the UK, allowing extended family and friends to gift an investment account before it's even been set up. Traditionally someone would need to wait until the parents created an account and shared the details with them, but Nosso has found half (49%) of parents and family say there are no savings or investment accounts set up for the child in their life.

Youssef Darwich, Nosso’s Co-founder and CEO said: “Despite parents, family and friends all agreeing that giving money over a physical present to children would be preferable, many still see it as awkward and lacking the personal touch.

“We want to change the perception that gifting “cash” holds less meaning. Our app enables families and friends to gift investments and personalise these with images and messages. And with our new gifting service, we’re allowing any friend or member of the family to take the initiative and start investing, ensuring children get the most out of the money in the long-term.”

Ease of contributing was also a major factor for family and friends, with a third (33%) saying they would be more likely to gift money to the children in their life, outside of just birthdays and holidays, if they could do so directly through an app.

Nosso’s new gifting service can be used by anyone who wants to start building an investment pot for a child’s future. Friends and family can use Nosso’s app or site to send the first contribution, along with a personal message and digital gift card, which they can then share with the child’s parents to activate. The process is straightforward and memorable, overcoming perceptions of giving money as a gift being impersonal or awkward.

Nosso’s research finds that family members and friends who make some sort of investment or savings on behalf of a child contribute, on average, around £1,700 each year. If families were to save this average amount into a Junior Stocks and Shares ISA from the child’s birth, their investment could be worth around £57,000 by the time they reach 18 (based on the annual average return of 6.33%, which is the FTSE 250 past performance since 2005- September 2022).

smartKYC announces Stephen Manly as the company’s new Head of Sales. 

Stephen will be responsible for driving revenue and sales team leadership. A consultative, enterprise sales professional for more than 25 years, Stephen has spent the last six years developing his subject matter expertise in KYC processes and technology. 

Stephen was drawn to smartKYC because of smartKYC’s unique multilingual AI approach to KYC Intelligence. His appointment brings a wealth of KYC solution sales experience to the smartKYC team. He joins smartKYC from Fenergo, a leading CLM solution provider, where he successfully sold their Client Lifecycle Management and KYC solutions in the UK. Prior to Fenergo, Stephen also enjoyed success with both Appway and Encompass Corporation where he was instrumental in successfully delivering on sales targets. 

“Stephen has a notable track record of delivering insight-led solutions and we look forward to having his expertise at smartKYC,” said Dermot Corrigan, CEO of smartKYC. “Pairing his experience with our global capabilities allows us to think holistically about this piece of the customer experience.”

Finastra research reveals that Open Banking is now universally and unequivocally regarded as a key part of a bank’s landscape, with 99% of respondents considering it either a ‘must have’ or ‘important’, up from 94% last year. The proportion of global financial institutions that consider it a ‘must have’ has risen to 61%, a notable increase from 2021 (51%).

The ‘Financial Services: State of the Nation Survey 2022’ finds that views on open finance are also maturing with some 94% of financial institutions regarding it as either a ‘must have’ or ‘important’ in the context of data sharing (up from 91% in 2021). Almost half (48%) of respondents now consider open finance a ‘must have’, a notable rise on last year (38%). The increase is significant across all territories, but particularly pronounced in the UAE (up from 50% in 2021 to 71% this year), the UK (up from 33% to 47%) and the US (up from 45% to 56%). This suggests that the sector globally is actively investigating products and services that would benefit from an ecosystem model.

Some 85% of professionals agree that open finance is already making the industry more collaborative and is having a positive impact on the industry.

The research was conducted amongst 758 professionals at financial institutions and banks from August to September 2022 across France, Germany, Hong Kong, Singapore, the UAE, the UK and the US. It explores the Open Banking and Finance landscape, the technology and initiatives set to make an impact in financial services over the next year, and the growing importance of ESG.

Other insights include:

·       Banking as a Service (BaaS) and Embedded Finance have become an industry norm – 83% of institutions agree that BaaS and embedded finance is already expected/demanded by customers. More than a third (35%) of institutions surveyed have improved or deployed BaaS in the past year. A fraction less (33%) have deployed embedded finance.

• Drivers for technological adoption remain consistent with previous years
  • Growing our business (48%), meeting current and future customer expectations (45%), staying ahead of our competitors (42%), and cost cutting (42%) are all key drivers
  • Interestingly, half of institutions (50%) now have all or most of their software stack on cloud-based solutions, with a further third (32%) splitting equally between cloud and on-premises solutions.
     

·       Global financial institutions are being prudent with their technology investments – with 82% noting constraints compared to 2021. Despite the current economic uncertainty and wider cost pressures, the majority (74%) forecast that they will have resumed their full investments by the end of H1 2023.

·       Support for ESG is widespread – Almost 9 in 10 organizations (86%) agree that it’s important for the financial services and banking sector to support environmental, social and governance initiatives. Linked to this, 82% of respondents agree that green lending presents an opportunity for growth and revenue generation, with the UAE (94%) and Singapore (88%) showing the strongest appetite.

“Finastra has always championed open finance as the key to unlocking the potential of people, businesses and communities everywhere,” said Simon Paris, Chief Executive Officer at Finastra. “Over the years that we have conducted this survey, we have seen open finance grow from an emerging idea to a clear priority for institutions across the world, enabling, as it does, business model shifts such as embedded banking, as well as financial inclusion and equality.”

Zumo, the Edinburgh-based crypto platform, has hired Vicky Byrom as its first Chief Data and Analytics Officer (CDAO), a new leadership role responsible for building the company’s data and analytics capabilities to a best-in-class standard.   

Vicky will drive the development of Zumo’s data strategy to meet the evolving needs of the business, managing and governing data whilst also ensuring the value of that data is fully realised as a strategic asset. Her focus will be on making data analytics accessible, transparent, secure and useful to the organisation. 

She will be responsible for establishing a data governance committee to map data across the business, making sure new data sources are prioritised, ingested and promoted in adherence to regulatory frameworks. Vicky will also oversee the improvement of data literacy across the organisation, identifying opportunities to develop data-driven approaches to business challenges. 

Vicky has over 20 years’ experience delivering data and analytics projects across both the private and public sectors, empowering organisations to effectively use their data to make better decisions. Prior to joining Zumo, she headed up the data function at payments fintech Modulr, and has also previously led the multi-award-winning Advanced Analytics team for the agency Merkle UK.  

In 2019, Vicky won the Data IQ award for ‘Data Analytics Leader of the Year’ whilst working at Merkle. She was also a member of the AI Steering Committee for the Scottish Government which developed the country’s first AI strategy.  

Vicky Byrom, Chief Data and Analytics Officer, Zumo, said: “I’m a self-confessed data nerd and have spent my career bringing profitable order to data anarchy. Lots of organisations claim to be data-driven, but most don’t do it very well. That’s because data is often an ill-considered afterthought.” 

“It’s hugely exciting to join Zumo, a well-respected company that wears its green credentials on its sleeve. It’s an opportunity to work with the very best in fintech. I’m looking forward to helping Zumo use data in a more proactive way. It’s a big asset that can inform customer and business processes as the company moves from start-up to scale-up.”

Dagmara Aldridge, Chief People and Culture Officer, Zumo, added: “This is a fantastic hire for Zumo. Everyone knows the power of data and Zumo is no different.  Shared, trusted data breaks down silos and provides real-time visibility into activities across the organisation, enabling sustainable growth, aiding automation and faster delivery of value to our end customers.  In addition, as we scale, responsibility and customer contact increases - a data-driven 360-degree view of the customer will help Zumo maintain the human touch and provide product intelligence. And Vicky is one of the best in the business when it comes to harnessing and extracting maximum value from data in a responsible, compliant manner. Vicky will also help to upskill her colleagues, boosting data literacy skills throughout the business.”

The latest in a series of senior hires for Zumo, Vicky’s appointment caps a fine year for the company, which has now more than doubled its headcount over the past 12 months. 

Following massive growth for the Zumo App, the company launched Zumo Enterprise earlier this year, which is the UK’s first full-stack B2B ‘Crypto-as-a-Service’ platform that supports financial institutions and fintechs keen to offer crypto solutions. Zumo has also joined the World Economic Forum’s Crypto Sustainability Coalition as a result of its industry-leading decarbonisation work. In recent weeks, Zumo’s successes have been recognised at City AM’s Crypto AM awards 2022 (Best Application of ESG) and the AltFi Awards 2022 (Crypto Company of the Year).

Facctum, the risktech company specialising in cloud-delivered enterprise risk decisioning technology, has today announced its launch into the EU market to satisfy the increasing demand for its services, with the creation of an entity in Ireland and the appointment of Nicolas Willard as its newest Director of Business Development. 

These two developments are further milestones for the company’s growth journey after Facctum’s successful launch in the UK market. Facctum’s new Irish entity will expand its customer service across the twenty-seven Member States of the European Union, with Willard enabling its work to promote and progress the business in this region alongside fellow Business Development Director Jörg Herzhoff. 

Building on its customer base in the UK, the company will now have an established presence in Ireland to provide more businesses with new screening technology for financial crime risk management. With Facctum’s technology, users can leverage cloud-first enterprise-grade risk detection tools and screening technology for sanctions and crime risk management with an immediate compliance response to risk.

Willard joins Facctum with over 30 years’ experience within the payments and sanctions space. Prior to his role at Facctum, he worked at Neterium as its Senior Business Development Manager. Alongside this he has held several positions throughout the years at SWIFT. During this time with this organisation, he was Head of AML and Sanctions Solutions for EMEA, appointed Head of Small and Medium Business (SMB), and then most recently became an Agile coach for SWIFT. 

The news follows the announcement of Facctum’s most recent appointments, including Jörg Herzhoff as Director of Business Development and Grant Marshall as a Senior Consultant. With this further investment, Facctum is committed to its strategic expansion across Europe, and additional markets.

 KK Gupta, CEO at Facctum said: 

“Being as close as possible to our customers and providing the best possible services, is a core Facctum strategy and our new presence in Ireland and continued investment in talent in Europe shows our commitment to our customers across the EU. We are seeing increased need across financial services for better and quicker screening and risk technology to meet the rising compliance demands. We are delighted to be able to bring our risktech solutions to organisations across the EU, with Nicolas leveraging his breath of skills and leading our EMEA team to help clients meet the ever-growing compliance demands effectively and efficiently.” 

Nicolas Willard Director of Business Development, EMEA at Facctum said:   

“The world is changing at an accelerated rate, with regulations and technology changing just as fast. With such high-speed movement, there is a high demand for compliance and risk technology that can keep up. With such possibilities, I am excited to be joining Facctum as it continues its growth and looks to bring leading risktech to a wider customer base across the European Union. There is plenty of opportunity and I look forward to being part of Facctum’s journey and future success.” 

Adyen, the global financial technology platform of choice for leading businesses, and Mirakl, the industry's first and most advanced enterprise marketplace SaaS platform, today announced their partnership. Together, they will support the limitless growth of the world's most successful marketplaces by powering frictionless buying and selling experiences at scale.

The two companies have launched a new connector between their solutions, which will automate critical marketplace payment flows and compliance processes on marketplaces powered by the Mirakl Marketplace Platform, enabling businesses to seamlessly scale their platforms and operate with confidence. This optimised payment process will also benefit third-party sellers and buyers by enabling them to maintain their preferred payment methods. 

This global partnership builds on Mirakl and Adyen’s existing relationship and will serve customers around the world, including in Europe, North America, and Asia Pacific*. The two already have 40 joint clients, including Debenhams, Fonq, Go Sport, Greenweez, home24, PcComponentes, Shop Apotheke and Worten, among others. 

In 2021, enterprise marketplaces grew at double the rate of eCommerce for the second year in a row. Mirakl’s State of Online Marketplace Adoption report found that 70% of consumers worldwide now believe online marketplaces are the most convenient way to shop, demonstrating how the new connector is well placed to help businesses take advantage of this trend. More than 300 of the world’s most trusted brands have an enterprise marketplace powered by Mirakl.                

With the Adyen partnership in place, operators of Mirakl-powered Marketplaces will now be able to:

• Adapt payment methods to the local needs of consumers and buyers. It is vital that a marketplace operator can provide local consumers/buyers with their preferred payment method, which often varies from one region to another. For the marketplace operator, market-specific and cross-border conversions significantly increase if they can accept local payment methods. Through the partnership, Mirakl’s existing and new customers will benefit from Adyen’s well-established global system of payment methods, which has been built to take into account local payment method preferences.   
• Achieve fast screening and onboarding of sellers.  The richness of a marketplace’s catalog and its product range is linked to how quickly it is able to onboard sellers. The new Mirakl Adyen Connector enables the seamless verification of a sellers’ identity to facilitate frictionless onboarding and make sure the seller is Know Your Customer (KYC) compliant. Once screened, these sellers can be quickly onboarded across multiple markets, enabling the operator to scale their platform with ease.
• Enable a unified shopping experience. Adyen’s solution works across online and in-store sales, a vital element for businesses who need to integrate their marketplace as a crucial pillar of their omnichannel strategy.

“We needed a partner that could enable all of our customers – wherever they are in the world – to achieve limitless growth through a marketplace that can easily scale. Adyen’s international reach enables Mirakl-powered Marketplaces to provide a seamless payment process tailored to the country where our customer is operating,” said Andy Barker, executive vice president, financial services at Mirakl. “The new Mirakl Adyen Connector will provide a highly automated payment process, making it easy for end customers to pay online with their preferred method, while also simplifying the seller onboarding and payment process  for marketplace operators.”

“The new connector represents a deepening of our shared vision with Mirakl to efficiently respond to our clients’ financial services needs,” said Brian McDonnell, senior vice president, partnerships at Adyen. “This move facilitates an automated, seamless payment process benefiting sellers, marketplace operators and the end buyers on Mirakl-powered Marketplaces.” 

A new report published today by the Association for Financial Markets in Europe (AFME) and Protiviti outlines four key barriers holding back the pace of Cloud adoption within the Financial Services sector.

The report entitled “State of Cloud Adoption in Europe - Preparing the path for Cloud as a critical third-party solution” finds that while Cloud can clearly be an enabler for financial services innovation, some key barriers are currently making it harder for firms to adopt and fully leverage its potential.

Fiona Willis, Associate Director of Technology and Operations, at AFME, said: “The benefits of Cloud technology for the growth of the financial services sector are clear, allowing financial institutions to deliver agile, scalable and resilient services to their clients. However, our report finds the rate of adoption of Cloud technology is currently being held back by overly complex and unharmonised regulation.”

“AFME members believe it is essential that policymakers, in the EU and globally, do not inadvertently impact the continued adoption of Cloud services. We therefore make key recommendations to help ensure regulators and policymakers can work together to unlock the full potential of cloud opportunities for the financial services sector.”

James Fox, Director, Enterprise Cloud at Protiviti, said: “Cloud technology is increasingly critical for financial institutions, creating a significant opportunity to increase productivity, flexibility and resilience in support of their digital transformation initiatives. Regulators are quite rightly taking steps to make sure that the application of Cloud technologies within financial services is properly regulated to avoid any potential risks or issues that could harm the global financial system. However, a careful balancing act needs to be struck between properly regulating Cloud technologies and not stifling innovation and competition within the financial services sector, and as our recent report shows, the current regulatory complexity is making it more difficult for financial institutions to adopt the Cloud.”

The paper sets out four key challenges that financial institutions are currently experiencing, including:

1. Concentration of Cloud Services

Globally, 65% of Cloud services are provided by just three entities, whose dominance is raising concerns among financial regulators, highlighting the risk of concentration in the Cloud marketplace.

2. Regulatory Complexity

Regulatory fragmentation, uncertainty and the time required for regulatory approvals is preventing financial institutions from innovating, slowing the pace of Cloud adoption. FIs are also subject to multiple different regulators that may ask for the same information in different formats and through different channels.

3. Data Localisation

The forthcoming EUCS certification framework could have far-reaching negative implications if the proposals to achieve “immunity against third-country law” via EU control requirements are adopted.

4. Management of Disruption in the Cloud

Several high-profile Cloud service outages have highlighted the need for greater visibility and confidence in Cloud providers’ abilities to predict, manage and communicate disruptions to their Cloud services. Regulators expect FIs to have primary responsibility for resisting threats to operational resilience, to guard against service disruptions and to recover from incidents.

The paper provides 9 recommendations for policy makers in order to help address these challenges:

Concentration of Services

1. We urge policymakers to consider how CSPs could be encouraged to provide greater transparency on resiliency, dependency and security issues within cloud services, specifically greater visibility and analysis of dependencies between regions and the underlying control plane[1] within each CSP.

2. We recommend that the adoption of multi-cloud strategies should remain at the discretion of individual FIs and should not be mandatory, as such a mandate could increase, rather than address, systemic concentration risk.

Regulatory Complexity

3. We request that authorities consider an approval model for deploying services to the cloud at a platform level or remove time requirements for notifications, in order to reduce delays in the approval process.

4. We encourage greater co-ordination between the European Central Bank (ECB), European Supervisory Authorities (ESAs) and National Competent Authorities (NCAs) to ensure a consistent application of the outsourcing and Information and Communication Technologies (ICT) third-party registers to ensure minimum duplication for FIs and supervisors.

Data Localisation

5. We request that policymakers and regulators refrain from requiring localisation of data or cloud hosting solutions, as it challenges resilience, inhibits innovation, and increases operational complexity.

Management of Disruption in the Cloud

6. We encourage CSPs to proactively help FIs understand their tools, resources, and configuration settings and ensure that workloads and data running within the CSPs infrastructure are properly secured. In addition, CSPs should help FIs understand the Service Level Objectives (SLO) across each service provided and the resiliency and recovery metrics.

7. We request that CSPs aid FIs in proactively architecting for greater resilience by providing dependency mapping between services and geographies, for example, that two different services share a single point of failure or how an outage that occurs in one region may affect the underlying CSP control plane.

8. We encourage CSPs to provide greater transparency and detail of Root Cause Analysis (RCA) for incidents and outages within a CSP and create a library of previous RCAs, so that incident trends can be tracked, understood and better managed moving forward.

9. We ask CSPs to provide sufficient education and notice to FIs for service updates that may impact FIs’ responsibilities and obligations in areas such as security or resilience.