Category: Key risk indicators for operational risk in banks

Key risk indicators for information technology can be utilized for a wide variety of industries, but for this post we will be focusing on KRIs for IT departments within the banking industry. Banks today are heavily integrated with technology to connect with their customers and because of this, privacy breaches are a very real risk. For financial services organizations, a technology failure due to a cybersecurity breach or a service outage can have a devastating impact on the business and its customers. A failure can cause reputational damage, legal liability,…

Banks today face an ever-changing landscape, challenges arise in multiple areas and a risk in one area can easily impact another. According to ABA Banking Journal the security and cyber risks remain at the top of the risk lists in most banks. No matter the size of the a financial institution there is always a cybersecurity risk to consider, banks must monitor technology upgrades to ensure that criminals can’t target vulnerabilities in the system. There are other risks to consider aside from the threat of ransomware and other cyber criminals.…