Wolters Kluwer: Big data to disrupt current operating models within the financial industry
Posted: 1 October 2015 | Source: Wolters Kluwer
Big data to disrupt current operating models within the financial industry
The recent global financial crisis has effectively forced firms to assess internal governance procedures and adopt a wider approach to risk management. However, the backward looking nature of traditional GRC – Governance, Risk and Compliance – means that it is solely concerned with preventing repetition of previous failings. Now, with a well-publicized call for strengthening existing GRC procedures to meet the current and future demands of regulators, shareholders, financial media, and savvy-minded financial professionals, the need of the hour is a forward looking approach, agile enough to decipher new threats.