Tapan Agarwal, Risk Product Council Chair at iGTB, has been featured in Global Banking and Finance Review where he discussed how technology can help banks manage their risks more realistically and remain open for business. Although the banking industry is traditionally risk-averse, Agarwal questioned whether some banks are being too rigid in their approach to risk given that many businesses are in need of help and some economies are flatlining.
Agarwal argued that technology can help in instances where banks are missing opportunities not because the opportunities are inherently risky but because bankers are either unsure about the precise nature of the risk, or have not been able to measure it with sufficient precision. With the right tools and attitude, Agarwal explained that bankers will soon become accustomed to leveraging technology to fine-tune their responses to any type of risk.
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