As banks move beyond being transaction platforms to act as facilitators guiding customers, assurance functions must keep up
A dynamic financial services landscape leads banks to transition from traditional transaction-focused models to a more customer-centric approaches. The changes are prompting banks to align their strategies and operating models to drive sustainable growth and profitability.
Real-time data exchange within banks strengthens risk selection and operational efficiency, while consolidating diverse financial services on a user-friendly platform ensures personalised customer experience. Scalability and reliability are crucial for robust data management. Banks must take a proactive stance to ensure the lawful processing of personal data, adopt more sophisticated approaches for risk-weighted assets’ calculations, and meet new requirements on capital floors. Embracing digital solutions,
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First Published: Feb 11 2024 | 9:51 PM IST