Covid-19 is forcing the pace of digital adoption in financial firms, placing new pressure on digital channels and processes. As new risks emerge, firms must adapt their governance, risk and compliance (GRC) processes and capabilities to mitigate emerging threats, stay compliant, and enable agile and proactive decision-making to support business objectives.
Based on a Risk.net survey of 123 senior GRC professionals, this report explores the impact of digitalisation on financial firms, and the changing strategies, resources and technology deployed by the GRC function.
Among the findings, we reveal:
• The top three emerging risks caused by the shift to digital
• The actions GRC teams are taking to mitigate these threats
• The value of advanced technology such as AI, and its priority use cases in GRC
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