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AUSTRALIAN CAPITAL MARKET FIRMS RESPOND TO NEW RISK MANAGEMENT DEMANDS
The Readiness Survey by FIS explores how capital market firms in Australia are transforming their technology and operations to compete in the future .
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R models are giving rise to new risk challenges for capital market firms in Australia , while regulators are shifting their attention to areas such as surveillance and fraud .
Even as firms start to renew their focus on growth , they recognise that deeper investments in RegTech and risk management will be mission critical .
The changing risk landscape is demanding more external support , with more than half ( 55 %) looking to their tech vendors to strengthen their risk management capabilities .
The Readiness Survey by FIS , launched in Australia focuses on the entire capital markets industry and explores how firms are transforming their technology and operations to compete in the future . Key stats from the latest Readiness Survey by FIS include :
• Logistical and security issues related to remote working ( 37 %) were identified to be one of the biggest operational and technological challenges for Australian capital market firms ( buy-side , sell-side and insurance ), alongside new demands on risk management ( 32 %) and cyber and fraud risks ( 30 %).
• To maintain or improve competitiveness , 43 % of firms surveyed plan to strengthen cyber and fraud risk defences by investing
Intensifying cyber and fraud risks and new demands on risk management are also presenting some of the biggest shortterm operational and technological challenges for firms .
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