Risk management key to resiliency in 2021 and beyond
- June 4, 2021
- Micah Group
- Lending Library
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.
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