The dissertation addresses a critically important issue in the financial sector: how organisations can manage the risks arising from the use of third-party ICT services, such as cloud computing, payment processing and cybersecurity solutions. The relevance of the research is underscored by the European Union’s Digital Operational Resilience Act (DORA), which has established strict requirements for financial institutions regarding the management of third-party ICT risks since 2025.
First, the study demonstrates that digital trust statistically significantly reduces most third-party risks, confirming the role of trust as a risk-mitigation factor.
Second, the research shows that the availability of information alone does not resolve risks. What is essential is the critical interpretation of information and assessment of its origins. An organisation’s ability to manage these risks is primarily reflected at the governance level.
The scientific contribution of the dissertation lies in the development of a holistic definition of digital trust and the systematisation of its key factors. Openness has been introduced as a new category specific to the digital context, thereby expanding the classical Integrative Model of Organisational Trust. The methodological contribution includes the development of an original and empirically validated methodology for assessing the digital trustworthiness of ICT service providers using measurable factors and indicators.
The practical value of the dissertation is particularly significant for the financial sector. The research provides an instrument for assessing ICT suppliers, a structured catalogue of 12 types of third-party risks with a demonstrated risk-mitigating effect of digital trust, as well as practical guidelines to help financial institutions comply with DORA requirements.
“Jūlija Saveļjeva’s dissertation is an excellent example of what contemporary FinTech research should be: theoretically grounded, methodologically rigorous and, at the same time, directly applicable to banks and FinTech companies. It represents a significant contribution to the research capacity of the UL FinTech Business School,” notes I. Uvarova, Vice-Dean for Science at the UL FinTech Business School.
The UL FinTech Business School congratulates Dr. Jūlija Saveļjeva and her supervisor, Professor Tatjana Volkova, on this outstanding achievement! We are grateful for their contribution to research on digital trust and financial technologies in Latvia and across the Baltics.
