79% of risk pros prioritize credit risk transformation in race to digitalize banking
CARY, N.C., Dec. 8, 2022 /PRNewswire/ -- Regulatory demands, calls for greater transparency and accessibility, plus customers jumping ship to more agile fintech counterparts – banks are feeling pressured to enact a digital revolution, according to risk professionals on the ground. A key pillar of this modernization, credit risk transformation (CRT), is the focus of a new risk technology study by the Global Association of Risk Professionals (GARP) and analytics leader SAS.
- A key pillar of this modernization, credit risk transformation (CRT), is the focus of a new risk technology study by the Global Association of Risk Professionals (GARP) and analytics leader SAS .
- The Value of Credit Risk Transformations and the Role of AIis based on a global survey of roughly 300 banking sector risk practitioners.
- 79% of credit risk pros placed medium to high priority on CRT compared to other organizational transformations within banking.
- That traditionally ROI-focused banks are working to achieve credit risk transformation at breakneck speed as a vital business objective shows how critical credit risk measurement and active credit portfolio management are to financial institutions' survival."