Risk Management
US Treasury Report Urges Banks to Strengthen Risk Management Against AI-Powered Threats
A report issued by the US Treasury has emphasized the imperative for banks to enhance their risk management frameworks to mitigate the growing threat posed by AI-driven fraudsters and cybercriminals.
AXA and AWS to build B2B risk management platform
Source: AXA
A worldwide leader in insurance and asset management, AXA and AWS (Amazon Web Services) an Amazon.com, Inc. company (NASDAQ: AMZN), announced their intention to jointly develop and build AXA Digital Commercial Platform (DCP) and associated software services to enable next-generation risk management.
Cybersecurity remains number one risk for global banks
Source: EY
Amid unprecedented levels of volatility and global uncertainty, cybersecurity has remained at the top of the list of near-term risks for banks around the world for the second consecutive year, according to the latest EY and Institute of International Finance (IIF) bank risk management survey.
OCC's Fall 2023 Report Highlights Emerging Threats
In its Fall 2023 Semiannual Risk Perspective, the Office of the Comptroller of the Currency (OCC) emphasizes the importance of adaptive risk management strategies for financial institutions. The report covers key risk themes, highlighting the need for vigilance despite the overall robustness of the federal banking system.
FIS opens applications for 2024 fintecch accelerator
Source: FIS
Global financial technology leader FIS® (NYSE: FIS) has today announced that applications are open for the FIS Fintech Accelerator 2024, its flagship program that supports fintech innovation and growth.
ECB Warns of Transition Risks in Banks' Shift to Low-Carbon Economy
The European Central Bank (ECB) has issued a warning regarding the significant transition risks faced by banks that are unprepared for the shift towards a low-carbon economy.
Acadia responds to EBA's new Regulatory Technical Standards
Source: Acadia
Acadia, a leading industry provider of integrated risk management services for the derivatives community, today offers its thoughts on the European Banking Authority (EBA) publishing its finalized Regulatory Technical Standards (RTS) on Initial Margin Model Validation.
ECB Urges Banks to Enhance Outsourcing Risk Management Amid Growing Concerns
The European Central Bank (ECB) is cautioning banks about the need to enhance their management of outsourcing risks, particularly concerning the processing of personal data.
BaFin Report Highlights Cybersecurity and IT Outsourcing Risks in German Financial Sector
A recent report from German regulator BaFin underscores cybersecurity and the outsourcing of IT services as major threats to the financial sector.
Financial Regulator Urges Increased Investment to Tackle AI Risks and 'Deep Fake' Fraud
FCA head Nikhil Rathi has called on banks to increase their expenditure in order to counter the surge in AI and the menace of 'deep fake' fraud.
MAS Advises Financial Institutions to Brace for Quantum Computing Cybersecurity Challenge
The Monetary Authority of Singapore (MAS) has issued a directive to the country's financial institutions, urging them to ready themselves for the increasing cybersecurity threats posed by quantum computing.
Banks underpricing exposure to climate risks - ECB
Source: European Central Bank
The European Central Bank (ECB) and the European Systemic Risk Board (ESRB) today published a joint report on the impact of climate change on the European Union (EU) financial system.
HSBC Launches AI-powered ESG Index to Measure Company Performance and Financial Returns
HSBC recently unveiled a new global Index that utilizes advanced technology to assess a company's ESG (Environmental, Social, and Governance) credentials and its potential for positive financial outcomes. Developed by Arabesque AI and powered by ESG Book's data, this Index aims to monitor the performance of over 1,000 globally traded company stocks that are expected to experience financial gains through enhancing their ESG risk.