Financial institutions are under constant pressure to reduce costs, improve operational efficiency, adapt to regulatory changes and grow their business. NRI believes that a combination financial knowledge and information technology are crucial to the industry’s growth and development. Through our lakyara reports, NRI identifies the various capital markets and IT issues impacting our clients and the future of their business.
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Financial institutions’ progressive push into FinTech is enlarging their networks of partners and affiliates and, in turn, increasing their exposure to external risks. Should a financial institution’s partner happen to encounter any difficulties that imperil its business continuity, the financial institution itself could be hurt at least reputationally if not financially also. Adeptness at managing all types of subcontractors is a potential determinant of business success or failure.