Banking, Finance and Insurance
After many years of high growth which have led financial institutions to diversify their services, the financial crisis in 2009 have prompted them to rethink their business models by paying an increasing attention to relevant performance indicators, regulation and its associated risks.
Both high volatility and financial markets’ uncertainty have significantly reduced quite a few high-margin generating activities which had long been sustaining profitability.The banks have since then decided to focus on their initial activities in order to maximize their efficiency, quality, innovation and therefore restore trust from their clients.
Many financial control systems along with operational efficiency methodologies once used in other environments have been applied to the financial sector.
The financial crisis has also had a direct impact on the regulation bodies and risks management. In order to modernize/adapt their risk management tools, the financial institutions have strengthened their collaboration with regulatory bodies which have eventually modified their risk strategies.