Managing IT risk and compliance – how APAC’s financial services institutions are meeting the challenge

Rules and regulations are expected to tighten considerably for APAC’s financial services sector in the wake of the Covid-19 pandemic, with the industry facing an increasing barrage of cybersecurity threats, fraud and AML/CTF risks. This compliance burden is expected to increase the complexity of managing and supporting IT risk and associated regulatory requirements.

Speaking at a recent industry roundtable, jointly hosted by FST Media and ServiceNow, representatives from Singapore and Hong Kong’s banking, wealth and insurance
sectors underscored the trials and challenges of managing IT risk, as well as concerns around cybersecurity and operational resilience in the post-Covid era. Speakers also outlined anticipated pain points, as a rising tide of new business and cybersecurity data meets a raft of industry regulations and rules.

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