The past year has brought unprecedented disruption for financial services providers and their customers.
For many, the pandemic-induced risk landscape has created new challenges for FSIs including balancing disruption detection, digesting information from all over the globe, and managing a co-ordinated response. From local COVID-19 lockdown mandates affecting physical branches to cyber criminals targeting financial services providers, there are devastating consequences for an organisation’s reputation and bottom line when crisis response is inadequate.
As a result, FSIs have been under pressure to ensure they have 24/7 visibility of emerging risks, so that they can respond swiftly to protect their customers and employees while ensuring operational resilience across their physical and digital presence around the world.
To tackle this challenge, forward looking FSIs are exploring the potential of real-time alerting platforms, which use AI to process billions of data units daily from thousands of public information sources such as social media, blogs, information sensors, and the deep web, to alert customers to emerging and sudden threats as they occur.
To delve further into these challenges for retailers and possible solutions FStech was joined by Helen Sutton, Senior Vice President of EMEA and APAC sales at Dataminr.