IT Examiner School

Software Acquisition Acquired software is usually licensed, not owned, by the bank. Source code is generally not provided. This is a significant risk, since bank is dependent on the vendor for continuing support. • Limited term of use or perpetual license • Limited number of users or site license

Software Escrow Agreements • Common alternative to source code access.

• Financial institution will by allowed access to source code under very limited specific conditions , which must be specified in the agreement; for example,

• Discontinued product support • Financial insolvency of vendor