On-demand Risk and Regulatory Intelligence for Business Decision-making
Real-time intelligence and insights – key to efficient risk management in banks
Sound business decisions are critical to financial institutions staying relevant and retaining their competitive position. Insights on emerging risks and the overall risk landscape are especially crucial in the prevailing environment. Easy and round-the-clock access to real time risk intelligence and insights has the potential to improve risk management and make business decision-making more effective and powerful. Financial institutions, however, face difficulties in gaining real time risk information and insights.
In our view, building an intelligent risk assistant or a chatbot with the ability to retrieve and deliver real time risk intelligence and insights can help banks stay ahead of the curve. Bots powered by intelligent technologies can undertake a variety of tasks such as risk identification and quantification, monitoring, mitigation and reporting. A few key aspects that must be considered while building an intelligent risk assistant include:
- Clear stipulation of structured and unstructured data sources
- Extensive training of the bot
- End use as an information delivery channel