A Software Escrow Agreement is a simple and effective arrangement with mutually agreed terms between a Financial Services Firm, the FinTech Provider and NCC Group. The agreement can strengthen a firm’s operational resilience and support compliance with essential regulatory requirements around business continuity planning, resolution planning and exit plans by guaranteeing access to software source code in the event of supply chain disruption.
Software Escrow Verification provides an enhanced level of operational resilience for organisations by enabling the firm to test the rebuild of the application and therefore the effectiveness of their business continuity and exit plans.
