Celent provides forward-looking perspectives on where firms stand at the current juncture in their business and operational strategies pertaining to risk management and risk-related regulatory agenda for wholesale and commercial banks.

The financial technology space continues to undergo a sustained hype cycle, with an arms race and feverish experimentation with fintech, innovation, and next-generation technologies such as cloud, artificial intelligence/ machine learning, big data, and blockchain.

For this year’s Risk Business and Technology Outlook report — beyond the continuing regulatory delivery obligations — we focus on innovation, emerging next-generation technologies, and what they mean for the future of risk and control functions.

With current advancements in digital technologies and the rise of innovative fintech startups, financial institutions are faced with an array of apparent opportunities to build next-generation risk management capabilities and accelerate their path to internal transformation and cost rationalization efforts. The rapid thrust for the financial industry to improve and industrialize risk operations continues, but there is much work to be done.

This report provides an updated view on where firms stand at the current juncture around risk and regulatory initiatives for this year and beyond.