The maturation of regulatory frameworks has seen a strong focus on digital operational risks and the impact on data privacy from cyber breaches, from a consumer rights and technology implementation perspective.
Banks and financial services organisations face a range of challenges from their competitors, changing consumer behaviours, COVID-19’s ongoing disruption, and the increasing frequency or sophistication of cyber attacks.
These challenges have deepened their reliance on technology and the adoption of data-driven applications, with governments and their institutions rightly responding by refining regulatory frameworks and increasing the data protection, privacy, and security requirements of organisations.
