Though one BAI commentary about protecting bank data far predated Google, mobile and bank apps, its directives hold true 26 years later.
Many financial institutions play lip service to improving operational risk management but the smart ones embed it into their culture.
Scenario planning can be a powerful tool for helping banks guide their performance through uncertain economic times.
Universal lending systems can lower costs, increase wallet share, improve access to customer data and reduce compliance risk.
First and foremost, bankers need to be effective risk managers in a world where forms of risk keep multiplying.
Time-pressured employees may be tempted to record details of client meetings on their smart phones, but watch out for the business and regulatory risks.
An efficient loan administration system needs efficient tracking of documentation exceptions.
A cloud-hosted portal will enable banks to integrate both risk management and financial performance analysis.