By: Carina Himstedt and Merlin Jung
Over the past two decades, IT risk management in financial institutions has transformed dramatically. We’ve seen:
- Enhanced liquidity requirements
- Increased market and capital risks
- A heightened demand for transparency with both the public and regulators
- Elevated standards for risk reporting
- More focus on stress testing
- Rampant cyber threats and other IT security concerns
Clearly, the work of safeguarding data, systems and services is both a top priority and challenge for bank executives.
For a first-hand perspective on this evolving landscape, we interviewed 20 Kyndryl executives who work with top brands across the financial services sector. The conversations surfaced three consistent recommendations for banks and financial services companies to address technology risk and resilience moving forward.