The May 2023 report provides a checklist for banking CIOs and CTOs to manage IT outsourcing amid geopolitical instability. It advises understanding geographic distribution, such as offshoring to India, Ukraine, or the Philippines and nearshoring to Latin America or western Canada, and matching outsourcing types to core system needs. Banks should assess geopolitical risks regularly, keep contingency plans, and maintain flexibility to adjust offshoring and nearshoring mixes over time. It also recommends applying outsourcing selectively to emerging technologies like AI, quantum computing, and digital banking.

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