CONTRACTUAL ALLOCATION OF CYBERSECURITY RISKS: EVOLVING STANDARDS IN BANKING SERVICE AGREEMENTS

The digital transformation of banking services has fundamentally altered the relationship between financial institutions and their corporate clients. As banking operations increasingly depend on complex technological infrastructure, the management of cybersecurity risks has become paramount in banking relationships. Traditional banking service agreements (BSAs), which historically focused on operational and financial risks, must now address sophisticated cyber threats that can compromise both banks and their corporate clients.