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In the past, retail banking customers visit a bank branch to meet and transact with someone face to face – a situation that has largely disappeared. Retail products now tend to be digital, and many aspects of retail finance capabilities are increasingly analytical, focusing on data, price optimization, and processing speed.

This TCS-Chartis research report looks at the CRO function’s overarching delivery mechanism and the centralization and restructuring of the risk unit currently occurring in many financial institutions. Crucially, it examines the increased externalization of the risk function, its broader role, and the changing nature and impact of the services it delivers to the wider organization.

For organizations looking to transform their CRO function due to the evolving nature of the business landscape, this report delves into:

  • How the risk function in retail banking is evolving
  • Integrating the risk function into product and consumer-facing functions
  • Retail externalization and centralization in financial planning and wealth management