It takes less time to do things right than to explain why you did it wrong.

Compliance with internal and external requirements is an elementary component of planning and implementing change projects in a way that is fair to one's interests and risks. Of course, this also applies to digitalisation and IT transformation projects such as the introduction of apps and changes to the IT architecture.

The inclusion of the compliance perspective in the design of the company's services, but also in the contracts with involved service providers (for example, in the design of software and licence agreements) protects the company from penalties and reputational damage and creates the basis for effective control of important requirements. Consideration of regulations, including data protection, but also of market-specific requirements such as those of MaRisk and the EBA guidelines, thus establishes a secure design of projects and contracts.

This ensures that unnecessary costs are avoided, and risks mitigated, and that a service and product design and contract structure is created that is in line with their  interests and practical approach. 

Insights

Reference items
Blogpost

ZAIT – Comparison to BAIT

At the same time as the Banking Authority IT Requirements (BAIT), the German Federal Financial Supervisory Authority has also updated the Payment Services Authority IT Requirements for Payment and E-Money Institutions (ZAIT).

3rd March 2022
Blogpost

VAIT - Update 2022

This blogpost analyses the BaFin circular "Insurance Supervisory Requirements for IT (VAIT)" and puts it in the context of BAIT and ZAIT.

1st April 2022

Contact our experts

Reference items

Expert EN - Dr. Waldemar Grudzien

Dr. Waldemar Grudzien
Expert Partner
Dr. Waldemar
Grudzien

Dr. Waldemar Grudzien is an Expert Partner at CORE. Waldemar has 26 years of professional experience and is familiar with the special challenges of compliance-driven IT transformations. He acts as ...

Read more

Dr. Waldemar Grudzien is an Expert Partner at CORE. Waldemar has 26 years of professional experience and is familiar with the special challenges of compliance-driven IT transformations. He acts as an external data protection officer and external information security officer during the set-up and transformation phases of organisations.

Read less

Expert EN - Nadine Hofmann

Nadine Hofmann
Senior Expert Manager
Nadine
Hofmann

Nadine Hofmann is Senior Expert Manager at CORE. Nadine studied aerospace engineering. Her consulting expertise focuses on technical data protection (according to GDPR) and information security wit...

Read more

Nadine Hofmann is Senior Expert Manager at CORE. Nadine studied aerospace engineering. Her consulting expertise focuses on technical data protection (according to GDPR) and information security with an emphasis on IAM, SIEM and management of risks. She supports our clients in structuring and setting up financial compliance systems and accompanies companies and organisations through to successful certification according to the ISO 27001 standard.

Read less

Expert EN - Liubov Khomutovskaya

Liubov Khomutovskaya
Senior Legal Expert
Liubov
Khomutovskaya

Liubov Khomutovskaya is a Senior Legal Expert at CORE. Her expertise focuses on drafting and negotiating IT contracts with German, European, and US partners. She has extensive experience in negotia...

Read more

Liubov Khomutovskaya is a Senior Legal Expert at CORE. Her expertise focuses on drafting and negotiating IT contracts with German, European, and US partners. She has extensive experience in negotiating IT outsourcing contracts in various industries, including the banking sector and the media industry.

Read less

Expert EN - Katrin Miller

Katrin Miller
Legal Expert
Katrin
Miller

Katrin Miller is a Legal Expert at CORE. Katrin brings extensive experience from data protection projects in companies. In particular, she has deep application knowledge in the areas of intellectua...

Read more

Katrin Miller is a Legal Expert at CORE. Katrin brings extensive experience from data protection projects in companies. In particular, she has deep application knowledge in the areas of intellectual property protection and artificial intelligence in innovation management.

Read less

Expert EN - Moritz Treutwein

Moritz Treutwein
Transformation Manager
Moritz
Treutwein

Moritz Treutwein is Transformation Manager at CORE. His focus lies within Banking & Capital Markets, and his expertise includes the management and implementation of business unit expansions in the ...

Read more

Moritz Treutwein is Transformation Manager at CORE. His focus lies within Banking & Capital Markets, and his expertise includes the management and implementation of business unit expansions in the context of IT implementation projects, core banking transformations, audit remediation, and the development of digital business models. Furthermore, he is the appointed information security officer at CORE.

Read less

Also interesting