Bank Systems & Technology is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.


12:22 PM
Connect Directly

BITS Shared Assessments Program Basics

The data security process Shared Assessments Program developed by the BITS IT Service Providers Working Group consists of two key elements.

Related feature: BITS Program Streamlines Vendor Security Audits

The Shared Assessments Program was developed in 2005 by the BITS IT Service Providers Working Group to make the data security audit process more efficient for banks and vendors. There are two key elements to the program:

  1. Standardized Information Gathering Questionnaire (SIG): A standardized questionnaire used in place of banks' proprietary questionnaires, the SIG can be filled out by a vendor once and used across all of its financial institution clients.

  2. Agreed Upon Procedures (AUP): The testing portion of the program, the AUP provides independent assessors who use more objective testing criteria and can drill down further in an audit than banks typically would.
Register for Bank Systems & Technology Newsletters
Bank Systems & Technology Radio
Archived Audio Interviews
Join Bank Systems & Technology Associate Editor Bryan Yurcan, and guests Karen Massey and Jerry Silva from IDC Financial Insights, for a conversation about the firm's 11th annual FinTech rankings.