Skip to main content
Skip to footer

Smart Risk Enterprise in Banks: Toward Competitive Advantage and Growth

Vijayaraghavan Venkatraman

Global Head, Risk Management and Regulatory Compliance, Banking, Financial Services, and Insurance, TCS

You have these already downloaded

We have sent you a copy of the report to your email again.

Developing smarter capabilities for purpose-driven risk management in banks 

The risk function in banks has traditionally focused on enterprise assurance, risk reporting, and regulatory compliance. However, with banks re-prioritizing their agenda to manage pandemic impacts, evolving customer behavior, business model disruptions, and technological advancements, the future of risk management in banking too is set to transform. Banking risk management must become purpose-driven and customer-centric, enable flexibility, deliver enterprise assurance and growth levers, and effectively manage emerging risks such as climate risk. To deliver on these, the banking risk management function will need to embrace a smart risk enterprise with robust risk management frameworks backed by digital technologies. To transition to a smart risk enterprise architecture, banks must:

  • Bolster risk management frameworks with intelligent insights and automation

  • Transform capabilities through knowledge and decision models

  • Ensure an agile operating model

  • Build a digital core

Related reading

Banking Suresh Srinivasan Abhilash Kaduthanum

Embedded Payments: Addressing the Opportunity to Accelerate Growth

White Paper | 20 Sep 2023
Banking

TCS’ BFSI Enterprise Application Services for Finance Transformation

Solution | 11 Sep 2023
Banking Ashok Krish

Adopting Hybrid Work Models for Superior Employee Experience

Article | 10 Sep 2023
Banking

Leveraging the power of cloud and AI for fraud prevention in finance

Article | 14 Aug 2023

Transformation starts here

Ready to move from enterprise to ecosystem?

Talk to our experts

Find out more