Leading the way in innovation for over 55 years, we build greater futures for businesses across multiple industries and 55 countries.
Our expert, committed team put our shared beliefs into action – every day. Together, we combine innovation and collective knowledge to create the extraordinary.
We share news, insights, analysis and research – tailored to your unique interests – to help you deepen your knowledge and impact.
At TCS, we believe exceptional work begins with hiring, celebrating and nurturing the best people — from all walks of life.
Get access to a catalog of the latest news stories from across TCS. Discover our press releases, reports, and company announcements.
Vijayaraghavan Venkatraman
Global Head, Risk Management and Regulatory Compliance, Banking, Financial Services, and Insurance, TCS
You have these already downloaded
We have sent you a copy of the report to your email again.
Developing smarter capabilities for purpose-driven risk management in banks
The risk function in banks has traditionally focused on enterprise assurance, risk reporting, and regulatory compliance. However, with banks re-prioritizing their agenda to manage pandemic impacts, evolving customer behavior, business model disruptions, and technological advancements, the future of risk management in banking too is set to transform. Banking risk management must become purpose-driven and customer-centric, enable flexibility, deliver enterprise assurance and growth levers, and effectively manage emerging risks such as climate risk. To deliver on these, the banking risk management function will need to embrace a smart risk enterprise with robust risk management frameworks backed by digital technologies. To transition to a smart risk enterprise architecture, banks must:
Bolster risk management frameworks with intelligent insights and automation
Transform capabilities through knowledge and decision models
Ensure an agile operating model
Build a digital core
Fast-tracking mortgage originations through a ecosystem model
Climate data collection framework for effective risk management
GenAI is the future of banking
A strategy for GenAI adoption in BFSI firms