The Governance of Strategy and Strategic Technology Risks
Introduction: Risk Management and Financial Technology: Disruption, Obsolescence, Transformation
Fintech and Blockchain
Market Exposure to Fintechs: Too Risky?
Statistical Machine Learning Analysis of Cyber Risk Data: Event Case Studies
Cyber Regulations and Compliance Considerations
The Governance of Strategy and Strategic Technology Risks
Scaling Risk Management for Success
Fintech, Risk Management and Emerging Markets – a Case Study
Economic Drivers of Electronic Payment Systems in Developing and Emerging Markets
Brexit, Fintech and Risk Management for the Financial-Services Industry in the UK and Europe
Fintech Security
Cyber-risk Quantification of Financial Technology
Understanding Cyber-Risk and Cyber-Insurance
This chapter considers the governance of financial technology (fintech) strategies in financial institutions and, in particular, the role of the board in managing the many risks that arise from technology strategies. The chapter first discusses how financial institutions are adept at employing information-technology innovations and then considers a number of fundamental technology inventions that have changed the ways that IT is being used in the financial industry. A number of new fintech innovations have changed the balance of power between financial institutions and their customers, which will require institutions to change their business models. One of the most important changes will be for the board to consider IT no longer merely as a cost of doing business but as an opportunity to provide new types of services for its customers. Finally, the chapter discusses the challenges that face the boards of financial institutions, and their regulators, in embedding new technologies into their corporate strategies and managing the strategic risks that arise.
FINANCIAL INSTITUTIONS AND TECHNOLOGY INNOVATION
Financial institutions, especially large international
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