PRA Material Outsourcing Guidelines

Escrow arrangements support PRA-regulated firms with business continuity plans by providing the knowledge to bring an outsourced service back in-house, or the necessary materials to engage with an alternative third-party to rebuild a third-party application if required.

PRA SS2/21 requirements for on-premise software:

• Implement a business continuity plan for on-premise third-party applications that enables firms to anticipate, withstand, respond to, and recover from severe but plausible operational disruption.
• Document and test a stressed exit plan that enables firms to bring data, function, or service back in-house or transfer to an alternative back-up service provider.

Download the guide to learn more about the specific requirements and how Software Escrow solutions ensure compliance.

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