Risk management key to resiliency in 2021 and beyond

Banks are adapting their risk frameworks in response to COVID-19 disruptions.

The study, From Crisis to Opportunity: Redefining Risk Management, is based on a survey of 300 senior banking executives.

 

Key Findings

  • More influential than regulatory requirements, COVID-19 is the No. 1 factor influencing banks’ risk modeling approach.

  • 52 percent of banks say the pandemic has accelerated their modernization plans.
  • Cloud deployments and analytics are cited as top investment priorities.

Clients want a fully digitalized process where they can do everything online, including applications for credit. A more automated approach gives you the ability to be more effective from a business perspective.

Sadia Ricke, Group CRO for Société Générale