article thumbnail

Risk Management Data Strategy – Insights from an Inquisitive Overseer

Perficient Digital Transformation

We are witnessing a sea-change in the way data is managed by banks and financial institutions all over the world. Data being commoditized and, in some cases, even monetized by banks is the order of the day. Though this seems to be at a stage where some more push is required in terms of adoption in the risk management function.

article thumbnail

Fast forward: How cloud computing could transform risk management

McKinsey and Company

Cloud-based computing will provide tangible benefits for banking risk management functions, but risk leaders face significant challenges migrating their systems and activities from on-premises to the cloud.

professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Perspectives on model risk management of cybersecurity solutions in banking

McKinsey and Company

The sooner banks start their journey and establish an effective approach to model risk management of cybersecurity solutions, the quicker they will be able to manage risk and establish controls.

article thumbnail

Navigating economic uncertainty: New guidance for credit risk management

McKinsey and Company

Amid persistent complexity, bank leadership teams need to urgently revisit their approaches to credit risk management.

article thumbnail

How banks can reimagine lending to small and medium-size enterprises

McKinsey and Company

If banks reimagine and modernize their business-lending processes, they can take advantage of new opportunities with SMEs and capture more of the forecast growth.

Banking 24
article thumbnail

The Best Kept Secret For Powering Your Cross-Border Business: Foreign Exchange (wegginar® 5/11/22)

The Global Small Business Blog

What to expect from the wegginar: Gain knowledge of exchange rates Recognize the main causes of FX volatility Learn how to invoice your client in their local currency Increase your margins by paying or selling in local currencies Understand your FX risk management options To learn more and to register (n/c), visit: [link].

article thumbnail

5 Trends to Look Out for in the Banking Business

Redial

Is no news that the banking and finance industry ae facing some constant needs to adapt and continue to offer modern solutions. Staying ahead of the curve is crucial for banks and financial institutions to remain competitive, as clients, rightfully so, don’t forgive bad experiences, especially in terms of their money.

Banking 100