Use case
Vendor-risk management, continuity planning
Industry
Financial services and financial market infrastructure
Services
Vision Bank is a digital-first, Shari’ah-compliant business bank headquartered in Abu Dhabi Global Market (ADGM) and regulated by the Financial Services Regulatory Authority (FSRA).
As a regulated financial institution, Vision Bank places strong emphasis on operational resilience, responsible technology governance and continuity planning across its digital banking environment.
The bank serves businesses operating in increasingly complex financial and regulatory environments, including clients across ADGM, DIFC and the wider markets.
To support this model, Vision Bank relies on a range of technology platforms that enable important internal and client-facing banking workflows. As part of its wider resilience and vendor-risk management approach, the bank identified the need to strengthen recoverability for one of its business-critical applications.
As a digital-first financial institution, Vision Bank relies on a range of technology platforms to support important internal and client-facing banking workflows.
Vision Bank wanted to ensure that if a critical software supplier became unable to provide support, the bank would have a practical, validated route to recover or transition the application.
The objective was to go beyond contractual assurance and establish a more robust continuity mechanism: one that provided access to the necessary materials, supported recoverability, reduced vendor-dependency risk and aligned with Vision Bank’s wider operational resilience framework.
For a business-critical application, this meant more than simply holding source code. Operational recoverability depends on documentation, configuration information, build instructions, and the ability for an independent third-party to understand and rebuild the materials held in escrow.
Vision Bank therefore required an escrow and verification approach that could test whether the deposited materials were complete, usable and aligned to real-world recovery needs.
Vision Bank partnered with Escode, to implement a Software Escrow Agreement with a two‑stage technical verification process — specifically designed for platforms where operational continuity depends on far more than source code.
1. Software Escrow Agreement
A legally binding escrow arrangement was established to ensure Vision Bank could access the necessary materials, including source code, documentation, configuration information, and other technical artefacts, if the supplier failed.
2. Two Stage Verification
To validate the ability to successfully recover in the event of a release, Escode carried out a structured, real‑world assessment designed to simulate the impact of supplier failure.
The first stage, a Knowledge Transfer verification, was a full audit of the knowledge, documentation, and process required to recreate the development environment and independently rebuild the application. The second stage, a Scenario Test verification, was undertaken to confirm that the application could be rebuilt by an independent third-party using only the materials held in escrow.
The verification process validated the:
The legal process progressed smoothly, and verification was completed soon after the agreement took effect, enabling Vision Bank to confirm that all necessary materials required for potential recovery had been deposited and tested.
Upon completion, Escode delivered a detailed verification report, which now serves as independent build documentation should the bank ever need to transition development or operation to another team.
Escode will continue working with Vision Bank on an ongoing basis to track changes to the software, ensuring updated versions are correctly deposited and verified within the escrow vault.
“The software escrow agreement, supported by Escode’s technical verification process, gives Vision Bank additional confidence in the recoverability of a business-critical application in the event of supplier failure. This forms part of our wider focus on operational resilience, continuity planning and responsible digital banking.”
– Parag Singhal, Chief Technology Officer, Vision Bank
By implementing escrow with verification, Vision Bank has strengthened the continuity and resilience of one of its most critical applications.
Key outcomes include:
Improved Continuity Planning
Protection against disruptions caused by supplier failure, ensuring core workflows can continue without interruption.
Verified Recoverability
Independent, validated assurance that Vision Bank can restore and operate the application if required.
Reduced Vendor Dependency Risk
Greater control over strategic software assets that underpin essential processes.
Alignment with Regulatory Expectations
Direct support for ADGM and DIFC operational resilience requirements, outsourcing rules, and continuity expectations.
The result is a robust, proven continuity mechanism that supports Vision Bank’s digital-first strategy while maintaining trust, security, and efficiency.
1. Importance of Clear Communication
A successful escrow implementation relies on transparent communication between all parties, supplier, beneficiary, and escrow agent. Early alignment on scope, deliverables, and verification requirements prevents delays and ensures everyone understands the recovery process.
2. Value of Verification
Simply holding source code isn’t enough; storage alone is not continuity. Verifying and testing the deposit for completeness and real‑world usability provides confidence for internal stakeholders and regulators that the escrow arrangement will work when it’s actually needed.
3. Integration with Business Continuity
Software Escrow should be viewed as part of a broader resilience strategy, not a standalone measure. Integrating it within contractual obligations and disaster recovery planning ensures maximum protection against vendor failure or unforeseen disruptions.
4. Efficiency Through Expertise
Escode’s expertise and experience helped streamline the entire escrow process. The structured methodology and global compliance standards make it easy for organisations to implement robust agreements without adding pressure to internal teams.
By implementing a Software Escrow Agreement with a two‑stage verification process for its most critical software application, Vision Bank has strengthened operational resilience, regulatory alignment, and ensured it has the means to maintain service delivery in the event of supplier failure.
This proactive approach supports Vision Bank’s digital‑first mission and strengthens its position as a trusted, secure, and innovative financial institution in the UAE.
“Complex systems require a clear understanding of resilience requirements. Working with Vision Bank, we helped ensure the software, knowledge and documentation needed to support business continuity and software resilience were available if required. This is particularly relevant given the UAE’s evolving operational resilience regulations, which require financial services organisations to demonstrate robust controls for identifying, monitoring and mitigating operational risk in line with leading international practices.”
– Alex McCulloch,
Director of Market Development (Middle East), Escode
See how Vision Bank enhanced recoverability, continuity planning and vendor-risk management through verified software escrow.
