48. Where credit and financial institutions outsource all or parts of the remote customer …

Where credit and financial institutions outsource all or parts of the remote customer onboarding process to an outsourced service provider, as referred to in Article 29 of Directive (EU) 2015/849, credit and financial institutions should apply in addition to guidelines 2.20 to 2.21 and 4.32 to 4.37 of the EBA Risk Factors Guidelines and in addition to the EBA Guidelines on Outsourcing¹⁷ where applicable, before and during the business relationship with the outsourced service provider the following measures, the extent of which should be adjusted on a risk-sensitive basis:

• a) ensure that the outsourced service provider effectively implements and complies with the credit and financial institution’s remote customer onboarding policies and procedures in accordance with the outsourcing agreement. This should be achieved through regular reporting, ongoing monitoring, on-site visits or sample testing;
• b) carry out assessments to ensure that the outsourced service provider is sufficiently equipped and able to perform the remote customer onboarding process. Assessments may include, but are not limited to, the assessment of staff training, technology fitness and data governance at the outsourced service provider;
• c) ensure that the outsourced service provider informs the credit and financial institutions of any proposed changes of the remote customer onboarding process or any modification made to the solution provided by the outsourced service provider.

¹⁷ EBA Guidelines on outsourcing arrangements.docx (europa.eu)

1. Overview

1.1 References

1.2 Identified Requirements

1.3 Related Standards

2. Identified Requirements

3. Related Standards

• EBA - Published by the European Banking Authority at https://www.eba.europa.eu/