Term used by the FFIEC in IT Examiner Handbooks, including Appendix J Strengthening the Resilience of Outsourced Technology Services and FFIEC IT Examination Handbook’s “Outsourcing Technology Services Booklet”, /ITBooklets/FFIEC_ITBooklet_OutsourcingTechnologyServices.pdf. “In addition to providing systems and processing, technology service providers (TSPs) may also be retained by a financial institution to provide information technology (IT) recovery capabilities for the financial institution’s internal systems. Effective business continuity planning (BCP) and testing demonstrate the financial institution’s ability not only to recover IT systems, but also to return critical business functions to normal operations within established recovery time objectives (RTOs).”
Retrieved from FFIEC Appendix J. 2019.