Posts Tagged ‘risk management’

We are witnessing a sea-change in the way data is managed by banks and financial institutions all over the world. Data being commoditized and, in some cases, even monetized by banks is the order of the day. Though this seems to be at a stage where some more push is required in terms of adoption […]

Background On Friday, July 28, Heartland Tri-State Bank of Elkhart became the fourth U.S. bank to fail this year. A rather small bank, as of the end of its first quarter, the bank reported $139 million in total assets and $130 million in total deposits in its FDIC Call Report. Heartland Tri-State began operations in […]

What is Generative AI? Generative Artificial Intelligence, or generative AI, is a categorical or descriptive term ascribed to algorithms using machine learning to create or “generate” new content. Generative AI ingests data and understands guidelines incredibly well. Therefore, businesses across industries are optimistic about the many ways it can help save them money and create […]

The trust placed in financial services organizations by clients, investors, and stakeholders is not only a reflection of reliability but also a significant driver of business success. But, as one of the most regulated and notoriously untrusted industries, the financial services industry is among the most vulnerable to being impacted by negative digital media, driving […]

In our first blog in this series, Getting Started With Client Remediation (Part 1 of 3), we discussed how to get a client remediation program started, what levels of an organization should be involved in the client remediation program, and how ultimately positive outcomes, such as lower risks, improved technology, and risk monitoring, may result from […]

Risk Myth Busters – Unlock the myths about Risk Management Myth 1: Risk management is waste of time and money: If the head of the house hadn’t thought about safeguarding the house, his house could be ransacked or collapsed. If the health patient hadn’t thought about health insurance, the patient could spend his life savings […]

The purpose of BCBS 239 (Basel Committee on Banking Supervision’s standard number 239) is to ensure that systemically important banks’ risk data aggregation capabilities and internal risk reporting practices give thorough insight into the risks to which they are exposed. BCBS has a total of 14 principles, summarized in the four sections below: I. Overarching governance […]

 Diamond watch:   “Wow, that is a stunning piece of the watch,” says Mr.X “Thank you, Sir. It costs around a few hundred thousand dollars” replies Mr.Y “Oh, that is a lot of money. Can you please tell me the time?” Mr.X requested “Um, It doesn’t work but I like the diamonds on the watch” […]

We shouldn’t be that surprised. A couple of weeks ago, Crypto.com, one of the fastest-growing cryptocurrency platforms, was hacked on January 17, 2022. One area mentioned by the company as an issue was a gap in its multi-factor authentication (MFA) system. A statement issued by Crypto.com on January 20th said, “transactions were being approved without […]

Black swan’s companion In any fantasy story, you must have read about the dragons asleep and guarding the treasures. The dragons unknowingly defend the treasures without considering the value of it. You can imagine the massive loss of the treasure if you try to tickle the dragon. A small sneeze from the dragon that cannot […]

Nothing is too low for a bear A bear doesn’t probably love to chase and hunt their prey. They are fond of any sorts of flesh and easily pick you when you are asleep. Bears can be predators even though they don’t have many enemies. Although most do not, under normal circumstances, hunt and feed […]

Can an issue be a risk? Risk vs Issue : Everyone knows that a risk is an uncertain event that hasn’t happened yet has some probability of occurring in the future. An issue is an event that has already happened. Why Risk? Risk empowers us to think proactively and gives the opportunities to develop the […]