Shaping the Future of GenAI-Embedded Services | Execo Edge | Banking & Financial Institutions
6 DORA Contracting Risks for Financial Institutions — and How to Address Them
In July 2024, a routine software update from a major cybersecurity vendor triggered a cascading IT outage—crippling financial institutions worldwide. Trading systems went offline, payment networks stalled, and customer portals froze. It wasn’t a cyberattack. It wasn’t a data breach. The now-renowned CrowdStrike outage was a failure of third-party risk oversight, buried in contractual fine print.