In the era of Gen AI, risk management practices in the financial services industry need to be ready for significant evolution. According to Custodia Technology, the integration of AI technologies necessitates an audit of existing compliance frameworks to exploit their full Read More …
Category: Risk Management
How Gen AI is revolutionising risk management in financial services
RBI updates guidance note on operational risk management, extends it to NBFCs
Synopsis The Reserve Bank of India (RBI) updated its “guidance note” on operational risk management for the financial sector, extending it to include NBFCs and housing finance companies. The note highlights that operational disruptions can threaten the viability of regulated Read More …
Embedding ESG-related risks into Solvency II assessments
With ESG increasingly at the forefront of strategic ambitions and regulatory compliance, risk managers in the in the insurance sector are being challenged to more deeply integrate climate-related risks into their risk models. Nihat Mammadli from RiskSphere outlines why and Read More …
Amazon partners with AXA to develop global risk management platform
Amazon Web Services (AWS) and AXA have collaborated to build a digital commercial platform (DCP) and associated software services. AXA DCP is a secure risk management platform that combines industry, business and environmental data with geospatial analytics and generative AI Read More …
Managing Third-Party Risks Emerges as Key B2B Issue
The B2B landscape is built atop trusted relationships, both formal and informal. These relationships can include partnerships and collaborations with third-party vendors, suppliers, contractors, service providers and more; and while these relationships can offer numerous benefits such as cost savings, Read More …
Lloyds to cut jobs in risk management after finding it was a ‘blocker’ to transformation progress
Lloyds Banking Group is preparing to axe roles in its risk management division after finding that it was a “blocker” to the company’s transformation strategy. The group’s chief risk officer Stephen Shelley said in a memo last month that it was Read More …
RBI Guidelines for UPI Frauds in Banks
According to the Ministry of Finance of the Government of India, in FY 2022-23, there were 95,000 cases of UPI fraud, which is an increase from 84,000 noted in FY 2021-22. This data, thus, underlines the importance of protective measures against Read More …
‘When you’re lending, you have to be very conscious of risk’: IDFC First Bank’s boss V. Vaidyanathan on Indian economy, banking regulations and more
For V. Vaidyanathan, MD & CEO of IDFC First Bank, India is a good place to be. The financial services veteran, who started out as a banker, then turned entrepreneur, and now leads the bank formed as a result of the Read More …
Case studies: Successful fraud Risk Management Strategies
Examining case studies of successful fraud risk management strategies can provide valuable insights and practical guidance for businesses seeking to enhance their fraud prevention efforts. These real-life examples demonstrate the effectiveness of specific measures and highlight the importance of proactive Read More …
Harnessing The Power Of Open Source Intelligence In Enterprise Risk Management
Risk management, a strategic discipline, demands a proactive approach to identifying potential threats and vulnerabilities. Open-source intelligence (OSINT) steps into this arena by offering a cost-effective, comprehensive and real-time method for gathering and analyzing publicly available information. This information provides Read More …