In a volatile market environment—and with the edict to “do more with less”—many financial institutions are beginning efforts to reengineer their risk management programs by tapping into emerging technologies, according to a new survey conducted by Deloitte Global.
Seventy percent of the financial services executives surveyed by the firm said their firms have either recently completed an update of their risk management program or have one in progress. A big part of this revitalization, according to Deloitte, will be leveraging emerging technologies: Forty-eight percent of respondents are planning to modernize their risk infrastructure using new technologies, including robotic process automation (RPA), cognitive analytics, and cloud computing.
