The financial services industry is looking at improving online customer service enabled by competition with consumer brands like Amazon, Facebook, and Google. Importantly, most financial services executives feel improving the customer experience to be the top driver of digitization in banking.

And although we do not possess a crystal ball that will tell us what BFSI risk functions will look like in 2025 or what financial crises may disrupt risk management between now and then – we believe that technology is fundamentally going to reshape risk management in the coming years.

With the rise of big data, large banks now have access to an unprecedented amount of information that can be leveraged for strategic decision-making.

Alongside banks, there’re a lot of other companies that lend, save, and invest in easier, cheaper, and faster ways than financial giants. All of these are made possible with blockchain entering the scene.

Technology leaders will be aligning their enterprise servers and network infrastructures to make the most of these developments. That being said, the choice of data center will remain a bone of contention.

The European Banking Authority (EBA) is a decentralized agency of the European Union (EU) located in London. It is responsible for regulating banks through Implementing Technical Standards

In March 2019, the world’s tech giants went offline, including a series of hitches on Gmail, Google Drive, Facebook, Instagram, and WhatsApp. The outage was an eye opener for thousands of users and enterprise leaders, as it highlighted the unforeseen risks of storing data on public cloud locations.

Cloud managed services generally include day-to-day monitoring and management of cloud service environments, including configuration management.

Automation, as the term suggests, is the automatic execution of tasks without periodic interference. Whereas, Digitalization is the conversion of analog information into texts, photographs, and voices, among others.

CPGs can be contrasted with durable goods (DGs), an industry term for merchandise that is not consumed or destroyed in use and is generally not replaced until the merchandise experiences a problem.

 This type of consumer product is purchased routinely and involves very little thought. Think candy bars, toothpaste, a hairbrush, or a soda can. These types of CPG products often inspire brand loyalty.

Trade promotion management (TPM) is the process of planning and accounting for the funding of events and activities at retail level including brand management.