UK Finance has released the results of the third set of results from an ongoing operational resilience industry benchmarking survey. The results focus on approaches to important business services (IBS).
UK Finance says that during the period of the benchmarking study there has been a consistent reduction in the number of IBS per division reported by firms. 89 percent of respondents to the latest iteration of the survey said they currently have between one to ten IBS per division and 11 percent said they have between 11-30. No respondents reported more than 31 IBS in any division. This is a significant change from the first survey in May 2021, where 73 percent of respondents reported one to ten IBS and 23 percent reported 11-30, and four percent reported 31-60.
UK Finance says these results point to a maturing of thinking around the application of the regulatory policy statements and a better awareness of what services are most important to customer bases. The logistical challenges presented by many IBS is another reason for a reduction in the number of IBS.