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Why Do We Need Strong Resilient Financial System

Resilience is a process and an outcome of effectively adjusting to life's challenges and adversities, specifically through the exhibition of mental, emotional, and behavioral flexibility, as well as the ability to endure internal and external pressures. 

Organizational resilience pertains to the capacity of a business to proactively foresee, prepare for, react swiftly to, and adjust to both gradual and sudden disruptions to protect its continuous existence and success. 

Failure to give precedence to resilience could lead to the interruption of vital business operations due to geopolitical incidents, cyber threats, internal susceptibilities, or pandemics. 

Through adopting resilience-enhancing measures, financial institutions acquire current information about vital assets and operations. 

This capability empowers organizations to formulate more efficacious strategies and routinely reconfigure their business activities and services to accommodate these changes. 

As an alternative to traditional and limited business continuity/disaster recovery frameworks, resilience-focused organizations implement a "resilience by design" strategy. 

Need for Resilience  

In the last few years, we have seen many events.

This included Pandemics, wars between countries, geopolitical risks, supply chain issues, and the closure of some financial institutions.

As of the writing of this article, we are also witnessing something extraordinary. In some countries, interest rates are high, and there is a call to lower the interest rate. In some other countries, interest rates are getting increased. 

All these create a very abnormal situation, but it appears that this may become the new normal.

In this context, banks and financial institutions need to make that 

1. They can identify critical services, which should always be up and running for their customers ( say payments)

2. In case of any issue ( say any cyber-attack), they have a plan in place to put alternate mechanisms for critical services for their customers

3. They have additional capacity planned for use during this event. Say, the call center should be able to handle extra traffic as many customers may be anxious and call the bank's call center

4. In case that incident causes permanent damage, the bank should be able to adapt to the new situation and get back to work quickly.

5. The bank has a proper plan in place to identify the tolerance limit..say the time limit of 6 hours for the system to come up, and in case of failure, the following steps

6. Ability to learn from these incidents and embed those learnings in the system after the incident is complete.     

The Need for Financial Resilience

Historically, financial systems have predominantly adopted reactive approaches to crises, which have led to costly subsidies and economic disruptions.

Cultivating resiliency requires a proactive stance, wherein potential hazards are predicted and alleviated before they escalate into catastrophic outcomes. 

Financial institutions may be likened to fortifications that are purposefully constructed to endure impending storm surges, thus preventing their ultimate downfall. The maintenance of financial resilience constitutes the core principle guiding financial services regulation. 

The persistent existence of liquidity and inflationary forces further compounds the ongoing economic uncertainty, which regulatory bodies foresee as a catalyst for the emergence and intensification of risks. 

Financial services companies are expected to maintain optimal levels of capital and liquidity despite the adverse economic conditions. 

Conversely, these institutions prioritize reliable information, efficient risk management, and robust governance. 

Following the global financial crisis that occurred in 2008, prudential protocols of financial institutions and insurance companies underwent substantial revisions. 

This trend is anticipated to continue during the assessment of the Basel and Solvency frameworks to incorporate global and post-Brexit developments. 

Need for Operational Resilience 

Operational resilience pertains to the capacity of banking sector entities, organizations, and financial institutions to avert, address, recuperate from, and acquire valuable knowledge from disturbances in routine business activities. 

Resilient organizations place utmost importance on safeguarding the interests of their stakeholders, consumers, and the financial system by restoring critical business services following substantial unanticipated disruptions. 

Banks must have IT systems, established business processes, and authorization & escalation metrics. 

Operational resilience encompasses the protection of systems and the provision of business services, information security, change management, disaster recovery, strategy, governance, and, most importantly, effective management of operational risks.  

Enhancing operational resilience can be achieved by implementing safeguards that maintain the integrity of a specific system, thus mitigating the risk of potential disruptions to business services. 

In the end, however, resilience must be demonstrated by the enterprise service under evaluation. 

In contemporary banking, operational resilience is more significant than financial resilience. Insufficient operational resilience has the potential to act as a catalyst for fluctuations in financial markets. 

Consequently, regulatory agencies demand financial institutions identify critical businesses and services and furnish corroborating documentation to ensure their resilience. 

Presently, operational resilience pertains to the entirety of the banking ecosystem, encompassing not only the internal operations of a bank but also critical third-party providers and partners that facilitate the provision of customer-satisfying services. 

The elevated prevalence of social media has heightened public apprehension regarding disruptions. 

As a result, service interruptions can negatively impact a bank's financial performance and harm its reputation among customers, stakeholders, and regulatory agencies. 

Furthermore, it is of the utmost importance that the solution can facilitate the data contextualization needs of various organizational divisions. 

Stakeholders are responsible for assessing risks and the effectiveness of controls from various vantage points, as well as integrating risk results to provide a unified representation of the inherent and residual risk exposure across multiple levels of the organization. 

By fostering a collective understanding of an organization's susceptibilities, this integrated methodology additionally assists users in enhancing risk data's accuracy, scope, and dependability. 

A look into the history:

The concept of financial resilience has experienced a significant evolution in tandem with historical events, consequently impacting the current state of affairs. 

Following the onset of the Great Depression in the early 20th century, regulatory interventions were implemented to promote stability by reducing the interdependence between commercial banking and investment activities. 

One of the examples of such legislation is the Glass-Steagall Act. 

Between the 1980s and 1990s, the advent of globalization and intricate financial instruments intensified interdependence and systemic risk. 

Following the revelation of systemic vulnerabilities during late 1990 (the Asian financial crisis), a renewed focus has been placed on cultivating resilience. 

The 2008 Global Financial Crisis, the bankruptcy of Lehman Brothers and subsequent disruptions in markets, underscored the imperative for comprehensive reforms and the fortification of regulatory frameworks to alleviate systemic risk and enhance emergency readiness. 

There is a worldwide focus among policymakers and financial institutions on the continuous development of resilience within the financial sector. 

Ongoing enhancements are implemented to macroprudential policy instruments, stress testing, and capital adequacy requirements to strengthen the system's ability to withstand impending disruptions. 

How to Build Resilience into the Financial Sector:

Given the dynamic nature of the finance industry, it is critical to prioritize the development of robustness measures to ensure continued growth and stability. 

Policies, technologies, and strategies that fortify financial institutions against evolving challenges, uncertainties, and disruptions must be implemented to fulfill this imperative. 

This analysis examines the intricacies linked to establishing resilience within the financial sector, which is vital in guaranteeing its ongoing functionality in the face of a constantly changing environment. 

As per the Global Financial Stability Report of the International Monetary Fund, the total worldwide repercussions of financial crises spanning the previous two decades is around $14 trillion. This data point emphasizes the importance of fostering resilience to guarantee long-term stability. 

Prominent industry authorities and regulatory organizations strongly recommend that banks strive to enhance resilience by adopting a more comprehensive approach. 

Utilizing a cutting-edge technological solution makes it feasible to create an integrated platform comprising all components of an operational resilience framework. 

An operational resilience solution should further enable organizations to achieve operational resilience by integrating risk management processes with business continuity planning, cybersecurity, compliance, and vendor risk management. 

This integration will not only streamline adherence to regulatory obligations concerning operational resilience but also empower proactive mitigation of potential disruptions. 

For risk-aware, real-time decision-making, data should be unified, friction between functional divisions should be eliminated, and a single, integrated, interconnected data model should serve as the source of truth. 

Recognizing the Importance of a Holistic Ecosystem: The notion of financial resilience extends beyond the boundaries of particular institutions. 

It includes, among other entities, consumers, governments, and regulators. 

Consensus efforts to enhance global preparedness and fortify interdependent systems are imperative to safeguard stability on a worldwide scale. 

Instead of conceptualizing the financial sector as a collection of isolated islands, a more suitable analogy would be to a resilient archipelago, where the collective strength of its constituent islands strengthens the entire network. 

To effectively address the risks presented by cyber threats, it is crucial to consistently update and fortify technological and IT assets. Financial institutions can benefit from the insights and expertise in these domains as they devise advantageous procedures. 

Potentially necessitating significant change initiatives could be the resolution of any technology debt. 

Proactive communication and reporting of key performance indicators is critical to facilitate well-informed decision-making related to resilience risk. 

Due to the dynamic nature of the business environment, regulatory changes, increasing consumer demands, and technological progress, performing routine evaluations of impact tolerances is critical. 

Regular evaluations and assessments, including business continuity and disaster recovery, are essential for determining resilience. 

When considering change initiatives and contracts with third parties, the quality of durability is an essential characteristic of resilience. A holistic view must be taken here,

Continuous implementation is necessary for proactive strategies for internal and external communication. Any obstacle to the long-term viability of services with a lower priority must be progressively removed. 

It needs to be ensured that resilience benchmarks are of utmost importance for the sustained progress of change initiatives. 

Cultural transformation: All personnel must know the resilience framework, its relevance to their circumstances, and its significance in ensuring the organization's uninterrupted operation. 

Strategies must consider both the potential repercussions of operational disruptions and the capacity of institutions to assemble crisis management teams and resolve the situation to guarantee a successful recovery from a catastrophe. 

A crucial element of the operational resilience framework, ownership must be unambiguously defined to guarantee the correct functioning of processes and the distribution of accountability. 

Businesses can garner the trust and backing of the consumer base, regulators, and economy by implementing and strengthening their operational resilience. 

Key Element of the framework:

A comprehensive and efficient framework for resilience management is necessary for financial institutions' ability to recognize and comprehend emergent internal and external challenges associated with resilience.

1. Role of digital transformation and its relevance to resilience. 

Banks must ensure that every innovative partnership or endeavor undergoes a comprehensive examination and assessment to identify potential risks and validate the presence of suitable controls. 

Conducting comprehensive vendor risk assessments is a vital component of vendor due diligence, serving to detect and disclose any potential concerns proactively. 

Finance institutions are responsible for considering a range of vendor risks during the assessment process. 

These encompass various risks, such as adverse media coverage, cyber threats, information security vulnerabilities, operational disruptions, and business continuity issues. 

Along with that, banks need to keep on updating and enhancing their various IT systems. 

In case of an issue, banks should be able to reinstate legacy systems promptly. 

Financial institutions may implement a more cautious strategy in light of the constant media scrutiny they endure concerning breaches and information technology.

2. Perform regular self-evaluations of controls and hazards; this is an essential framework component. 

Implement business impact analysis surveys to determine critical assets and processes. 

Ascertain the interrelationships between the Recovery Time Objective and Recovery Point Objective by utilizing the data explorer in conjunction with the product's business process modeling capabilities: execution, coordination, and strategic planning for both top-down and bottom-up risk assessments. 

Recovery Time Objective: It is the maximum acceptable amount of time for restoring a network or application and regaining access to data after an unplanned disruption. 

Recovery point objective: It is defined as the maximum amount of data measured by time that can be lost after a recovery from a disaster, failure, or comparable event before data loss exceeds what is acceptable to an organization. Examples of RPOs are the time between data backups for business financial data/banking transactions. 

The outcomes should be formally submitted for evaluation and endorsement. 

To account for variations in risk assessment methodologies across products, business units, processes, assets, and regions, simplify essential evaluations by employing risk ratings while enabling more intricate assessments by utilizing risk scoring and the application of multiple factors. 

In addition, conduct a thorough assessment of the comprehensive control environment by considering various factors. 

One may need to perform a heat map examination of the residual and inherent risk scores with a predetermined agreed algorithm.

3. Continuous and Proactive Monitoring: Enable constant monitoring and control via efficient issue and action management. Supervising, managing, and resolving issues and actions arising from control evaluations, risk assessments, and business impact analyses is vital. 

Leverage technology like AI/ML to efficiently detect and propose issue classifications based on their interconnectedness.

4. Provide comprehensive reports to management detailing risk assessments. Aid risk managers in articulating critical risks and convincing the senior management and other stakeholders to implement necessary precautions to prevent significant disruptions during a crisis. 

Financial institutions are responsible for implementing and maintaining enterprise resilience to ensure compliance with current and future regulations, satisfy changing consumer expectations, and protect against significant internal and external risks. 

How it works 

Implementing a comprehensive strategy is crucial to attain resilience on various levels. 

1. Individual Institutions: Certain institutions establish substantial capital reserves and implement comprehensive risk management procedures, contingency plans, and diversified funding sources to ensure stability and uninterrupted operations. 

All financial institutions should establish a resilient vault. This can act as a preventive measure to ensure the security of their financial assets and operations. 

2. Regulatory Framework: The regulatory framework, consisting of stress testing exercises and macroprudential regulations, is utilized by policymakers and regulatory bodies to identify systemic risks and implement corrective measures that reduce interdependence and improve the overall resilience of the financial system. 

Establishing a clear boundary between these repositories is advisable by implementing resilient firewalls and bridges. 

By implementing this measure, the likelihood of network disruption resulting from the failure of a solitary vault would be drastically reduced. 

3. Global Cooperation: To address potential crises in a coordinated manner and mitigate global risks, governments, financial institutions, and international regulatory bodies must establish cooperative relationships and share information. 

By implementing these strategies at the individual, systemic, and global levels, the financial sector can strengthen and expand its infrastructure, augmenting its capacity to rebound from a wide range of disruptions and obstacles. 

The Features of a Resilient Financial Sector 

The establishment of resilience requires the integration of the subsequent strategic elements, as opposed to being an independent objective: 

1. Capital Adequacy: Ensuring institutions uphold sufficient capital reserves is crucial to effectively withstand losses and remain solvent amidst challenging circumstances. 

2. Diversification: Financial institutions can effectively reduce the adverse effects of concentrated risks by spreading their investments and funds across various markets and assets. 

3. Risk Management: Risk management involves the application of efficient strategies to identify, assess, and mitigate potential dangers. This capability grants organizations the ability to detect and mitigate potential hazards proactively.

A bank could be likened to a network of financial watchtowers whose fortifications are consistently reinforced in anticipation of approaching cyclones. 

4. Liquidity Management: It is imperative to implement effective liquidity management strategies to safeguard vital financial resources amidst periods of market instability.

Imagine a water reservoir strategically placed to ensure the sustenance of your financial garden, even during periods of reduced precipitation. 

5. Contingency planning involves formulating premeditated protocols and strategies to efficiently and effectively address potential crises to mitigate the magnitude of disruption and damage.

It is recommended that your financial institution develop a comprehensive emergency evacuation plan that guarantees all personnel are informed of the designated area and appropriate courses of action in the event of an alarm. 

6. Cyber-Security: The reinforcement of safeguards against cyber threats and violations of confidentiality of confidential financial data is achieved through implementing robust cybersecurity protocols. 

What is DORA 

The Digital Operational Resilience Act, or DORA, is a European Union (EU) regulation that creates a binding, comprehensive information and communication technology risk management framework for the EU financial sector. 

DORA was established to ensure the operational resilience of the financial sector. As mandated by the Digital Operational Resilience Act, it is of the utmost importance that organizations implement and maintain risk management protocols capable of identifying potential susceptibilities to established cyber threats. 

Additionally, it is necessary to implement security policies and controls to safeguard against the hazards identified in these processes. 

The Digital Operational Resilience Act delineates the responsibilities that financial institutions will require from their suppliers and the security protocols that these suppliers are obligated to implement. 

DORA's fundamental objective and requirement is to establish governance and risk management frameworks and principles for the financial industry.

Considering the overarching goal of DORA, which is to bolster the financial sector's overall resilience, it is likely that these obligations and responsibilities will impact each facet of the supply chain. 

The organization will, therefore, be subject to direct oversight by the relevant financial regulator. 

While organizations that still need to meet the DORA thresholds for services continue to be required to adhere to the regulation, direct oversight is optional. 

Alternatively, clients may request the inclusion of particular contractual provisions to ensure adherence to DORA's standards. 

Financial institutions must promptly inform regulators of any data vulnerabilities they identify. Financial institutions must guarantee that their suppliers and service providers comply with similar breach reporting standards as a contractual requirement. 

A financial institution is prohibited from doing business with a company that does not adhere to the conditions above, as mandated by DORA regulations. 

DORA implements a regulatory framework that financial institutions and suppliers must comply with to protect operational resilience. 

The primary objective of these guidelines is to support organizations as they develop more sophisticated risk management programs that bolster operational resilience. 

•  By their risk assessments, DORA advises covered organizations to integrate resiliency testing programs into their operations. This enables the identification and resolution of issues before they escalate into operational hazards. 

• Information Exchange: A significant proportion of cyber threat actors that operate in the financial sector will target multiple organizations simultaneously. DORA facilitates threat intelligence dissemination across the industry and enhances industry-wide awareness and readiness to confront persistent cyber threats. 

• Supply Chain Management: The contractual relationships between financial institutions and their suppliers are governed by DORA regulations. Furthermore, financial institutions must develop strategies to manage the risks efficiently associated with these suppliers. This necessitates the potential for the cessation of partnerships and the adoption of alternative service providers. 

• To streamline the reporting process, DORA expanded the incident reporting criteria

The DORA-mandated expedited reporting requirement facilitates prompt incident investigation and response and reduces repercussions associated with security violations. 

Moreover, vulnerability reports can facilitate the identification of clandestine infiltrations targeting external networks. 

• Audit Access: Regulatory entities (and financial institutions in the case of suppliers) are authorized by DORA regulations to conduct audits of the entire financial industry supply chain. Although this practice promotes compliance with regulatory standards, it also requires organizations to have the capacity to generate reports promptly. 

• Retrospective Analysis:  Although most organizations strive to acquire insights from internal incidents, DORA advocates for evaluating and adjusting policies in response to external incidents. 

Considering this, it will be feasible to prevent numerous organizations from falling victim to identical attacks. 

On December 27, 2022, the European Regulation concerning digital operational resilience in the financial sector was formally published. Following the implementation date of January 17, 2023, the above will be observed on January 17, 2025. 

 DORA aims to ensure the resilience of the European financial sector in the face of significant operational disruptions and prevent and mitigate cyber threats. 

1. It establishes a regulatory framework for digital operational resilience. With this, it will be obligatory for all organizations to ensure they can endure, react to, and recover from ICT (Information and communication technology) -)-related disruptions and risks. 

2. It sets uniform and consistent requirements across the information and communication technology systems and networks of financial sector institutions and critical third-party providers that supply these entities with services such as cloud computing platforms. 

Scope of DORA

 1. Credit establishments

2. Payment institutions, including those exempt from PSD2 requirements.

3. Alternative investment fund managers

4. Electronic money institutions

5. Investment enterprises, including the authorized crypto-asset service provider.

6. Insurance and reinsurance companies

7. ICT ( Information and Communication Technologies) third service providers

Benefits of a resiliant finacial system 

The advantages of having a resilient financial system  are substantial for institutions, the economy, and society: 

For Institutions:

Investor confidence and reputation are enhanced due to a demonstrably more robust risk profile, which bolsters institutions' operations. 

A decrease in the likelihood of needing financial aid and government subsidies. 

Proactive risk management yields the benefits of cost savings and enhanced operational efficiency. 

For Economy:

In the context of the economy, enhanced business cycles are distinguished by diminished disruptions to lending, investment, and overall economic expansion. 

The primary aim is to ensure the maintenance and continuity of employment opportunities and economic stability in the context of the financial system. 

An augmentation in the trust and assurance the average citizenry has in the financial system. 

For Society: 

It addresses the societal consequences of financial crises, encompassing social disturbance, economic strain, unemployment, long-term financial stability, and increased economic prosperity for both communities and individuals. 

Promoting resilience represents a prudent course of action and a monetary investment in a more sustainable and resilient future for all. 

Technologies for Building Resilience in the Financial Sector:

Stimulated by institutional reforms and regulatory frameworks, emerging technologies bolster the financial sector's resilience. 

Technological advancements, which include, but are not limited to, big data, artificial intelligence, and cybersecurity solutions, furnish resilient and robust instruments. 

Organizations can adopt the following measures to adapt to a changing environment and proactively address emergent threats: automate processes to improve response time, incorporate data analysis to identify and mitigate risks, and establish robust security protocols. 

Let us contemplate a financial industry that not only erects formidable barriers but also equips them with advanced sensors and automated defenses—technologies that can proactively detect and obstruct potential intrusions.

1. Artificial intelligence: With AI and machine learning algorithms, one can now analyze vast data to identify risk patterns, predict potential hazards, and automate processes to enable timely responses.

With AI, one can implement an artificial intelligence assistant that continuously monitors one's financial transactions and provides alerts regarding potential vulnerabilities and anomalies before they can cause harm. 

Now, with GEN AI, financial institutions can create synthetic data and do stress testing of their overall system. 

2. Big Data Analytics: The integration and analysis of financial data from diverse sources can facilitate the formulation of enhanced risk management strategies about market trends and systemic risks.

It is advisable to consider oneself as the possessor of a comprehensive financial radar map that sheds light on the locations and interconnections of various institutions functioning within the system. 

3. Cloud computing provides a scalable infrastructure that ensures the uninterrupted operation of businesses by enabling remote access, disaster recovery, and secure data storage. Envision a resilient cloud infrastructure as an aerial backup system for your bank's financial stronghold. 

Besides these, Blockchain ( to avoid data tampering) and other mobile technologies play an essential role here.

Implementing this measure would guarantee uninterrupted access to data and safeguard against challenges that may arise in the physical infrastructure. 

When implemented conscientiously and ethically, these technologies can significantly enhance the financial industry's ability to anticipate, integrate, and recover from disruptions; thus, they fortify the ecosystem. 

Use Cases of Resilient Financial System: 

Let's look at the following examples here. 

1. Cybersecurity Breach: Imagine a sophisticated cyberattack attempting to steal customer data from your bank. The attack is thwarted thanks to robust cybersecurity measures like multi-factor authentication and data encryption, minimizing damage and protecting your financial information.

2. Economic Downturn: A sudden economic downturn leads to increased loan defaults across the sector. However, institutions with solid capital buffers and diversified portfolios can absorb the losses and continue lending to creditworthy businesses, supporting economic recovery.

3. Natural Disaster: A significant flood hits a region, disrupting financial services for local businesses and residents. However, institutions with pre-established contingency plans and remote access capabilities can quickly activate alternative channels like mobile banking and emergency loans, ensuring continued financial support for the affected community.

The abovementioned examples provide evidence of how resilient financial systems can mitigate various challenges, thereby protecting institutions, individuals, and the economy from unfavorable events. 

Prominent Organizations Advocate for Financial Industry Stability: 

Several forward-thinking companies are leading the charge in building a more resilient financial future:

1. IBM, a technological powerhouse, offers financial institutions a comprehensive suite of solutions, including risk management tools that leverage artificial intelligence to identify and alleviate potential threats proactively.

Moreover, their blockchain technology substantially enhances the system's overall resilience by facilitating secure and transparent transactions. IBM is the originator of a robust digital infrastructure that lays the foundation for a more secure and adaptable financial environment. 

2. Accenture: This transnational consulting firm provides technological solutions, including big data analytics platforms, implementation guidance, and expertise.

Accenture advocates for digital transformation endeavors that strengthen and update operational protocols to support financial institutions in formulating customized resilience strategies.

These organizations should be regarded as strategic allies of the financial sector, collaborating with particular institutions to develop a resilience-enhancing strategy. 

3. Palantir, renowned for its resilient integration platforms and secure data analytics, furnishes pragmatic insights from vast datasets to financial institutions.

Their solutions enhance crisis response capabilities, enable proactive identification of risks and fraud, and facilitate the detection of fraudulent activities.

Palantir, positioned atop the financial fortress, can be likened to a fortified watchtower. Its responsibility is to facilitate informed decision-making and prevent potential risks, thereby ensuring the stability and security of the financial ecosystem. 

These are just a few examples among a growing community of innovators paving the way for a more resilient financial future.

From established tech giants to nimble startups, companies worldwide are recognizing the immense potential of technology and innovative strategies to build a financial sector that can withstand and thrive in the face of any challenge.

Conclusion: 

To summarize, within the complex and ever-evolving finance domain, adopting resilience measures is not a strategic choice but an essential one. The resilience of the financial sector is reliant on its capacity to integrate state-of-the-art technologies, adopt inventive methodologies, and promote cooperation among stakeholders in the industry. 

Amid persistent uncertainties, financial institutions highly value resilience as a strategic methodology to protect market stability and enhance consumer confidence and trust. 

The financial sector can fortify its security and resilience by establishing a conducive atmosphere that emphasizes adaptability, the integration of cutting-edge technologies, and the rigorous observance of regulatory structures.

 

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Comments: (2)

A Finextra member
A Finextra member 03 January, 2024, 09:341 like 1 like

Great post Raktim. My only point is that moving to the Cloud does not make your application scaleable or resilient. It does help however, careful consideration needs to be taken for each component of the architecture to ensure it will support a critical application. 

Raktim Singh
Raktim Singh - Infosys - Bangalore 04 January, 2024, 10:15Be the first to give this comment the thumbs up 0 likes

Agree Chris. Application, on its own, should be modular, should have well defined & demarketed components  and (should be) scalable. If the underlying application is not properly defined, than in short term, cloud can help in scaling the application but that will be very costly.   

Raktim Singh

Raktim Singh

Senior Product Leader

Infosys

Member since

07 Nov 2023

Location

Bangalore

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This post is from a series of posts in the group:

Financial Risk Management

This network brings together professionals involved in the oversight and management of their company's financial risks and exposures as well as solution vendors, in order to discuss risk issues including interest rate risk, foreign exchange risk and commodity price risk, among others.


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