Digitalization is accelerating. Cloud computing is introducing new efficiencies, artificial intelligence is being explored and distributed ledger technologies, including cryptocurrencies and tokenization are being tested . With so much business now conducted virtually and attitudes transformed, digital technology which has been under development is now seeing its potential realized. It is reducing costs providing the opportunity to improve profitability, but requires investment that needs to be funded. We are seeing financial institutions with start-ups & market disruptors, innovation to core business processes, but also increasing regulatory risk awareness, e.g., over transparency, privacy, data and cyber security issues.
Our updated Digital Transformation Risk Radar analyzes the most pressing DT risks that FIs need to consider in 2025. We examine how these risks impact business decision-making and how they continue to shape the roles and responsibilities of FIs.
Here we cover:
- Innovative Technologies
- Workforce redesign
- Aggregated Data
- Regulation and Regulator Relationships
- Transactions
