Mobile Financial Services

April 29, 2016

Mobile Financial Services

Update to FFIEC IT Examination Handbook Series



The Federal Financial Institutions Examination Council (FFIEC) has issued a new appendix, Mobile Financial Services, to the Retail Payment Systems booklet of the FFIEC Information Technology Handbook. The appendix provides guidance to assist examiners in evaluating the risks associated with mobile financial services.

Statement of Applicability to Institutions with Total Assets under $1 billion: This Financial Institution Letter applies to all FDIC-supervised institutions.


  • The appendix emphasizes an enterprise-wide risk management approach for effectively managing and mitigating the risks associated with mobile financial services.
  • The appendix discusses the technologies used in the mobile delivery channel, elevated risks that may result, and appropriate controls implemented by institutions or third-party providers.
  • The appendix contains a work program to assist examiners in determining the risks posed by an institution’s mobile financial services and assessing the controls that have been implemented to mitigate those risks.
  • An electronic version of the appendix, as well as an FFIEC press release, is available at

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