BugZero

KPMG’s report, “The Year of Regulatory Shift,” highlights two opposite (or complimentary?) trends in regulatory oversight worth noting. The report details how state regulatory oversight is ramping up – often significantly, even as federal enforcement appears set to ease. One interpretation of this dynamic suggests US states may be stepping up proactively in anticipation of reduced federal involvement. ? If so, could this response at the state level emerge internationally as well? The EU's Digital Operational Resilience Act (DORA) and recent clarifications from the Digital Regulation Cooperation Forum (DRCF) in their case study. Managing the impact of third-party software defeats on resilience (combining responses from four different UK regulatory agencies) would seem to suggest that this may in fact be the case. ? Explore further:??https://lnkd.in/e8iD_8E3 DRCF case study:?https://lnkd.in/gNSjRfmX ? #Regulation #OperationalResilience #DORA #RiskManagement #DRCF #BugZero

Are Third-Party Software Failures the Next Big Regulatory Focus? Regulators worldwide are sharpening their focus on operational resilience—but how are they addressing non-security software failures that can disrupt financial systems, telecom networks, and consumer services? Check out our latest blog where we dig into Digital Regulation Cooperation Forum (DRCF)—a collaboration between FCA, Ofcom, ICO, and CMA—and its recent case study that answers questions like: - Should third-party software defects be regulated as rigorously as cybersecurity threats?? - How do financial, telecom, and consumer protection regulators align on managing software risks?? - How should businesses prepare for evolving compliance demands around software resilience? Dive into the full article to explore what’s changing—and why it matters.?https://lnkd.in/gNSjRfmX #OperationalResilience #ThirdPartyRisk #Regulation #DRCF #Compliance #SoftwareFailures

Shadow IT is about to get a lot more… intelligent and autonomous We already know that shadow IT—employees using unauthorized tools to "get things done"— can lead to both security and operational risks. But what happens when AI gets in on the act? As agentic AI (AI systems that take action independently) becomes more common, shadow IT risks will also get an unwelcome boost. Now, we're talking about AI agents making operational decisions, invoking and maybe even deploying unauthorized software—without oversight. Most discussions we’ve seen have focused on cybersecurity risks, but let’s not forget the operational impact:? - Unknown software = Unknown bugs. If IT doesn’t know a tool exists, critical flaws and dependencies aren’t tracked.? - No patching, no mitigation. A serious defect could break business-critical operations, and no one would see it coming.? - AI-driven automation = AI-driven chaos? If agentic AI tools act without proper governance, we could see automated failures at scale. If you don't know what software is running in your environment, you can’t manage the risks it brings – both security and operational. Are companies ready for Shadow IT 2.0, powered by AI? Let’s talk.? https://lnkd.in/gv5-irjA #AI #OperationalResilience #ShadowIT #AgenticAI #BugZero

Another Banking Outage—A Growing Concern for Operational Resilience? In the past month, major UK banks—including Lloyds, Nationwide, TSB, Halifax, and Bank of Scotland—have faced online banking failures, leaving customers stranded, many on payday. Just weeks earlier, Barclays suffered a similar IT glitch that locked customers out of their accounts for nearly 24 hours. ? As far as anyone knows, these failures didn’t stem from cyberattacks—they were operational breakdowns - non-security flaws or IT missteps. Are these issues unique to financial services? According to four UK regulatory agencies, the answer is no. The Digital Regulation Cooperation Forum (DRCF) software risks and IT failures (non-security) need the same level of regulatory oversight as security threats. See their recent case study here: https://lnkd.in/gSVfWfWn? #OperationalResilience #BankingOutage #DigitalBanking #ThirdPartyRisk #Regulation #ITFailures #DRCF

What We Are Reading: DORA Compliance Challenges and Vendor Contracts ? As we continue to explore the evolving landscape of operational resilience, a recent article on Risk.net caught our attention. https://lnkd.in/gqgmZTAH The piece highlights the challenges financial institutions face in complying with the European Union's Digital Operational Resilience Act (DORA), particularly in renegotiating contracts and reestablishing SLA and vendor disclosure obligations with third-party ICT providers. DORA Compliance Challenges? The January 2025 deadline for DORA compliance is now behind us and contract remediation between banks and vendors is proving difficult. Lawyers are warning of a "battle of the forms" as both parties seek to ensure their interests are protected. This includes standardizing Service Level Agreements (SLAs), liability clauses, and reporting requirements. Standardization Imperative? This situation echoes our previous discussion on the Bank of England's initiative to normalize incident and risk data reporting. Similarly, DORA compliance requires a standardized approach to vendor contracts, ensuring that financial institutions and their vendors align on key terms like SLAs and liability. This standardization is crucial for maintaining operational resilience across the financial sector. BugZero’s Perspective? At BugZero, we understand the importance of standardized risk management practices. Our platform helps organizations consolidate and normalize vendor bug data, enabling proactive risk management. This mirrors the need for standardized vendor contracts under DORA, where clear, consistent terms are essential for effective operational resilience. Takeaway? As financial institutions navigate DORA compliance, the push for standardized vendor contracts underscores the broader trend towards operational resilience. By adopting consistent practices in risk management and vendor oversight, organizations can better mitigate operational risks and ensure compliance with evolving regulatory requirements. Follow us?on LinkedIn for more insights on operational resilience and vendor risk management:?https://lnkd.in/gTwxsY8s Contact us?to explore how BugZero can help your organization stay ahead of operational risks. #OperationalResilience #VendorRiskManagement #DORACompliance #FinancialRegulation #BugZero

What We Are Reading: Enhancing Operational Resilience with Standardized Reporting As part of our ongoing commitment to operational resilience, we're closely following the Bank of England's latest consultation on operational incident and outsourcing/third-party reporting for financial market infrastructures (FMIs). https://lnkd.in/gmDMgbWu This initiative aims to strengthen the UK financial sector's ability to manage operational risks and enhance its resilience against disruptions. Key Insights from Section 3.7? The Bank of England is introducing new reporting requirements to improve the visibility and management of operational risks. The rationale behind this move is to ensure that FMIs can effectively report and manage their material third-party arrangements, which are crucial for maintaining financial stability. Reporting Requirements? FMIs will be required to submit detailed reports on their operational incidents and material third-party arrangements. This includes aggregating and normalizing data from their suppliers to provide a consistent view of operational risks across the sector. Resulting Benefits? By aggregating this data, the Bank of England will gain a comprehensive understanding of systemic risks and vulnerabilities across all FMIs. This centralized approach allows for better oversight and more effective risk mitigation strategies. BugZero’s Alignment? At BugZero, we're already pioneering a similar approach for non-security operational bugs. Our platform aggregates and normalizes vendor bug data, enabling organizations to proactively manage risks from third-party defects. This mirrors the Bank of England's strategy for operational resilience by providing a unified view of potential disruptions. Takeaway? The Bank of England's initiative highlights the importance of standardized reporting and data aggregation in enhancing operational resilience. By adopting similar strategies, organizations can better anticipate and mitigate operational risks, ensuring they remain resilient in the face of disruptions. Follow us?on LinkedIn for more insights on operational resilience and vendor risk management:?https://lnkd.in/gTwxsY8s Contact us?to explore how BugZero can help your organization stay ahead of operational risks. #OperationalResilience #VendorRiskManagement #RiskManagement #BugZero #BankOfEngland?

Operational Outages in 2025: A Quick Start to a Challenging Year 2025 is off to a shaky start as operational outages are already making headlines. Two recent incidents caught our attention: the?Barclays IT failure?and the?PlayStation Network outage. While these businesses operate in vastly different sectors, their outages share some striking similarities. Common Themes? Both outages were non-security related, yet they had a material impact on system availability. The costs of these incidents will extend far beyond the immediate downtime, including liability, reputational damage, administrative costs, and potential regulatory exposure. These examples highlight the need for robust operational resilience strategies across all industries. Barclays IT Incident? On January 31, 2025, Barclays experienced a three-day IT outage that coincided with payday and the HMRC self-assessment deadline, causing significant disruptions for customers. According to internal sources, the issue was not related to a security breach and, as such, highlights the importance of broad operational resilience in the financial sector. You can read more about this incident?here.?https://lnkd.in/epCZiDSS PlayStation Network Outage? Sony's PlayStation Network faced a 24-hour global outage starting on February 7, 2025, affecting millions of users worldwide. Again, according to company sources, the cause was attributed to an "operational issue" with network services, not a security breach. This incident further underscores the impact of operational disruptions on consumer-facing services – not just banking. Learn more about the outage?here. https://lnkd.in/g_NEEcMi At?BugZero, we understand the importance of proactive risk management and vendor defect tracking. By consolidating vendor bug data, standardizing risk scoring and other enrichments before seamlessly integrating into ServiceNow ITSM, organizations can ensure risks stemming from non-security operational defects are properly accounted for. Learn more about how BugZero can help your organization stay ahead of operational risks?here.?https://lnkd.in/gxrT4kwT Follow us?on LinkedIn for more insights on operational resilience and vendor risk management:?https://lnkd.in/gTwxsY8s Contact us?to explore how BugZero can help your organization stay ahead of operational risks. #OperationalResilience #VendorRiskManagement #ServiceNow #BugZero?

IGNORE THIS POST (if you have the time to review the millions of non-security bugs published daily by your key suppliers) For the rest of us living in the real world, check out our recent blog that uses a recent Windows Server 2025 bug as an example of how non-security software bugs can appear harmless but, in fact, have the very real potential to lead to outages and disruptions. This latest post breaks down why these subtle bugs are so risky, and how BugZero’s automation, intelligence, and ServiceNow integration turn millions of scattered vendor bug descriptions into actionable insights.? Read the full story now ? https://lnkd.in/g2UDf54n #ITOperations #VendorRisk #NonSecurityBugs #ITAutomation #ServiceNow #BugZero #OperationalRisk #WindowsServer2025 #ITSM #SystemOutagePrevention #EnterpriseIT #ThirdPartyRisk #ITResilience??

CSDM: The Essential Catalyst for CMDB Success A Configuration Management Database (CMDB) is the foundation of IT operations, tracking assets, systems, and relationships. But without structure, a CMDB can become disorganized, inconsistent, and ineffective. That’s where the Common Service Data Model (CSDM) comes in. Provided by ServiceNow, CSDM is a standardized framework that organizes and aligns CMDB data, providing that much needed clarity, consistency, and usability across IT environments. Why does this matter?? - A CMDB without CSDM lacks structure, leading to poor visibility, unreliable data, and ineffective risk management.? - A CMDB with CSDM enables accurate risk assessments, streamlined workflows, and automated issue resolution. That’s why BugZero integrates with ServiceNow at both the CSDM and CMDB layers. Our approach ensures vendor operational risks are structured, visible, and automated—before they become outages. Learn more: https://lnkd.in/gv5-irjA #CSDM #CMDB #RiskManagement #OperationalResilience #ITSM #ServiceNow #Automation #BugZero

Check out the latest post from BugZero: Hindsight is 2025: Lessons Learned Six Months After the CrowdStrike Outage As we approach the six-month anniversary of this incident, it's time to reflect on the lessons learned on the importance of operational resilience beyond standard cybersecurity controls. Read the full analysis here: https://lnkd.in/g4HZndXM #OperationalResilience #CyberSecurity #CrowdStrikeOutage #DORA2025 #RiskManagement #ITOutage #DigitalResilience #TechFailures #LegalRepercussions #CyberThreats #BugZero?