DESIGNING MODERN RISK MANAGEMENT PRACTICES FOR A DIGITAL-FIRST VALUE PROPOSITION
- Bryce VanDiver & Spencer Schulten
Published: 11 March 2021
The global pandemic and related disruption further accelerated the financial services sector’s migration into the digital age. The benefits of offering digital services are many – cost savings, enhanced customer experience, expanded customer base, revenue opportunities and resiliency. However, as banks migrate towards digital-first value propositions and increase their dependency on modern compliance methods, the risk function must also evolve. We believe banks must develop specific practices for embedding effective risk management into their digital activities.