Considering the pace at which the banking industry is undergoing technological innovation, there is a substantial impact on risk management functions. An aggressive business strategy coupled with a poor risk management capability is a sure recipe for disaster. “Another critical aspect of risk management is about building a risk culture. Technological opportunities in risk managementBanking and financial institutions are responding to risk management practices by integrating institutive technologies. Given the ongoing scenario, banks are capitalizing on new-age technologies to built strong operational risk management and resiliency during the pandemic-induced market slowdown.

Source: Mint May 24, 2021 18:11 UTC