Digital Risk: Managing Risk and Security in Digital Age
As the world becomes more digitized and interconnected, the door to emerging threats and leaks has opened wider. Organizations depend more than ever on digital business operations and digital products and services to compete. While digital transformation abounds with new business opportunity, it also introduces new and unknown risks.
In the banking, financial service and insurance industry, research has shown that not only has the amount of data increased, but the corresponding value of digital assets has increased as well. Sensitive customer information, intellectual property and even the control of key machinery are all increasingly found in electronic formats. Attacks that affect these assets are much more likely to have a material impact on the entire organization, as opposed to simply the IT department.
This holds true in all walks of today's "digital age", and especially in the sector of Banking & Finance. Digitization has become deeply embedded in banking strategy, as nearly all businesses and activities have been slated for digital transformations, and thus, the relevance & importance of
Digital Risk. Therefore today's rapidly changing business and regulatory environment requires thinking about risks in new ways.
This year's
Digital Risk Forum conference will focus on the cutting edge thinking that is emerging across the world to address these big issues. Some of the focus of the event involves Managing
digital risk for BFSI, AI risks in banking and capital markets, Digital transformation through APIs, Digital lending, Risk management framework and Risk architecture.
The
digital risk conference is gearing up to provide attendees with seminal insights for some of the hotspot topics involving REGTECH and SUPTECH, Digital transition of the financial sector, Financial Crime and PSD2, Using machine learning to mitigate
digital risk, Cyber resilience in banking and Cybersecurity in the banking & financial services industry, for a successful operations within a digitally shifted transactional landscape.
Digital Risk Forum 2020 will bring together more than 50 senior practitioners and industry experts from across the financial sector to help identify and understand emerging trends, risks and opportunities. The forum will offer the ideal space for networking with industry players; senior managers, decision-makers, and practitioners operating in the industries and making the most of banking technologies. Don't miss this opportunity to be part of this insightful gathering as it promises to be value adding experience for industry players and practitioners.
Digital Risk Meeting Summary
- 2 days - Interactive sessions, panel discussions, networking & experience exchange
- Expert speakers - Industry leading companies, thought leaders
- Attendees - limited number high-level participation
Digital Risk Forum: Key Topics & Discussions
- Evolution of Risk Management
- Managing AI Risks and Pivoting to Responsible AI in Financial Services
- Importance of Customer Insights in Digital Transformation
- Digital Transformation Through APIs - But What are the Risks?
- Detecting Financial Crime in the Digital Era
- Our Risk Management Journey in Advising and Challenging the Organization on Digital Transformation and Innovation
- Credit Risk Modelling Approach to Support Digital Proposition
- Cyber Resilience in the Digital Age
- The Importance of Culture and Leadership to Risk Management in the Digital Age
- Using Machine Learning to Mitigate Digital Risk
- Who will Actually Manage Digital Risks?
Learn from practical case studies:
- International Banking Federation explaining the evolution of risk management
- Zurich Insurance Company highlighting the future of risk management for insurance
- Financial Services and Markets Authority defining the role of the supervisor in the digital transition of the financial sector
- Barclaycard discussing digital transformation through APIs
- ABN AMRO Bank N.V. detecting financial crime in the digital era
- Royal Bank of Canada introducing a vision for digital cyber risk
- EximBank studying customer centric approach
- Societe Generale identifying the road map for successful transformation
Key Learning Benefits
- Defining a vision for digital risk, including a view on the key activities risk will perform in the future, and in what way; the corresponding mandate and role of risk; and the metrics that will be used to determine success
- Determining the opportunities for digitization, through a bottom-up assessment of risk processes, a plan for applying digital tools to the most promising activities, and a business case that estimates the total impact
- Running a swarm of initiatives that meets the strategic goals and captures the defined opportunities, through a considered approach to governance and the operating model, and new techniques such as agile sprints and digital factories
- Driving a collaborative, accurate and transparent customer experience that includes self-service and assisted service options.
- Automating processes, from collecting borrower information to communicating with customers and reducing bottlenecks and errors.
- Realizing a lower cost per loan and staying compliant with faster, more accurate processing and increased metrics.
