Most Automation Efforts Result in Faster Processes, Lower Headcount and Fewer Control Errors, Say Bank Executives
Financial processes are the essence of banking, so automating these processes is a key goal for banks struggling to increase both efficiency and data integrity, according to Mastering banking risk through embedded governance, risk and compliance, a survey and paper from the Economist Intelligence Unit, sponsored by SAP. However, most banks still focus mainly on restraining costs and avoiding regulatory sanctions rather than developing an enterprise view of risk. This conservative approach has ironically increased risk exposure at the enterprise level even as it contributes to stronger risk management practices within functions and business lines.
