Nature of risk undergoing a radical change: Panelists at BS webinar

With this, chief risk officers say their roles will change dramatically too

Banks’ chief risk officers (CROs) were of the view that the nature of risk is undergoing a radical change with banking going digital. The key takeaways were that digital has fundamentally altered the way banks go about acquiring, and servicing their customers. This, in turn, calls for a rewiring of their internal processes and control systems.
 
A silver lining, though, was that CROs do not feel that banks’ asset quality will slip further if the pandemic is checked by the first half of the current fiscal. The panelists at the discussion on the emerging nature of risk at Business