Celent Risk and Compliance Research Agenda

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2019 Outlook

Overview

Risk management and compliance operations at financial institutions are increasingly reliant on technology to deliver efficacious insights as well as much needed efficiencies in risk and compliance processes. Indeed, with the emergence of regtech, risk and compliance functions have become central use cases for artificial intelligence, robotic process automation, natural language processing, and other next-generation technologies.

Building upon more than 15 years of experience in financial risk management and operational risk management technology, Celent has recently launched an expanded Risk and Compliance research service for CROs, CIO/CTOs, and lines of business with risk and compliance needs. Celent’s research analyzes industry and product trends as well as changing regulatory imperatives, profiles technology and service providers, and investigates innovation and emerging technology, including the fast-moving regtech space.

Celent’s Risk and Compliance research will be wide-ranging as we seek to help financial institutions understand the changing technology landscape, prioritize their strategic choices, and select the partners to help them on the journey. We’ll be exploring a host of topics, organized around our three key themes.

Our 2019 Research Themes

Celent will continue to publish a wide range of proprietary research organized across three broad and inter-related themes of Digital, Innovation and Regtech, and Legacy and Ecosystem Transformation.

Digital — Leveraging Data Science and Analytics to Deliver Efficiencies and Insights

While digital has been steadily transforming all corners of the financial services industry, it is still early days in risk and compliance. Digital is a double-edged sword for risk management. Digital tools and data science promise to enable great leaps in risk assessment and operational workflows; while at the same time customer-facing digital channels pose new risks and challenges for firms. In 2019, we will report on:

  • Platforms and approaches supporting an integrated risk and compliance framework.
  • Harnessing data and analytics to generate new insights for financial and operational risk management.
  • Leveraging risk data, customer data, and data science to derive business value.

Innovation and Regtech — Next-Generation Technology Strategies and Operational Paradigms

Risk and compliance in the financial industry is at a watershed moment. While continuing to be heavily invested in legacy systems, firms are seeking to use advanced technologies to overcome the traditional trade-offs of efficiency and efficacy. In 2019, we will focus on:

  • Understanding innovative strategies based on AI, robotics, and blockchain in risk and compliance technology.
  • Examining specific use cases for these technologies in financial and operational risk management.
  • Assessing, evaluating, and keeping track of the regtech ecosystem.

Ecosystem and Legacy Transformation — Plotting the Roadmap to Future Capabilities

Significant portions of nearly every financial firm’s risk applications and middleware portfolio consist of legacy systems, often siloed by line of business. What should firms do to overcome the limitations of those legacy systems and support compliance change: Buy, Build, Extend, or Rent? What are the boundaries of the risk and compliance ecosystem? In 2019, we will:

  • Explore roadmaps for migration to new analytic and operational platforms.
  • Evaluate vendor solutions for hotspot areas in financial risk as well as operational risk such as financial crime.
  • Investigate how cloud technologies are supporting internal data science initiatives as well as regtech solutions and services in the risk and compliance arena.

To access a more detailed outline for our 2019 plans, Celent Clients can log into the website and download the full Research Agenda.