Driving Security and Operational Resilience in Financial Services
The COVID-19 pandemic has caused widespread concerns in the interconnected Financial Services Industry. The financial services executives and managers need to maintain a delicate operational equilibrium, balancing keeping people safe and restoring business operations.
Companies invest significant resources in sophisticated controls to protect people, brands, and assets from critical events. These disruptive incidents (ranging from extreme weather to activism) increasingly lead to operational losses, brand damage, and concerns for health and safety. Despite investment, companies struggle to optimize their critical event management (CEM) operation, slowing down response time and creating potentially life-threatening confusion. As a result, companies are turning toward continuous-resolution and a unified approach to CEM that links security and business operations.
Many of these challenges revolve around the duty of care to staff, regulatory conformance and the critical nature of the supply chain. Maintaining a balance between the absolute safety and security threats that the sector faces, with the commercial needs of producers, is something that industry is working hard to find. But this challenge can be the perfect catalyst for organizations to digitise their security and critical event management capabilities, allowing them to become more agile and do more with less resources. This is particularly important in an increasingly competitive global marketplace.