In today’s technologically advancing world, traditional banking groups are being seriously challenged. As Google, Amazon, Facebook, Apple offer more and more banking services and financial technology startups gain traction, the banking industry must take a look at how it can stay competitive. To do this, banking needs to rely on data science.
Financial Risk Analytics has evolved beyond a secondary regulatory and cost-focused perspective, to become a core part of businesses. Today, Risk Analytics provides a competitive edge by enabling businesses to efficiently use capital and manage risk exposures with higher confidence to make better informed and timelier business decisions. Hence CEOs increasingly rely on their CFOs and their Chief Risk Officers (CROs) for strategic advice and active risk management.