Cybersecurity Risks when Fintech Firms Go International to Find Tech Talent
08-19-2018, 23:33 News
Spradlin praised the companies noted in the InvestmentNews article (FinMason, TradePMR and Oranj) as examples of technology vendors doing things the right way, but he said there still are cybersecurity risks involved when using non-domestic services. "The reality is, things will break down from a control perspective. When all of a sudden something is breaking in the product and the chief developers are all offshore, the only way to fix it is to get production data," he said.
That would require the offshore teams to access privileged data that perhaps they shouldn't. "It's not the best practice at all, but that's typically what happens. For advisers vetting technology vendors, it's a practice that should disqualify the vendor,” Spradlin said.