Role of RiskTech in Managing Emerging Risks

This report presents findings from a research study conducted by Chartis and Tata Consultancy Services (TCS) that investigates the role of RiskTech in managing emerging risks within capital markets. The study surveyed 152 banking, financial services, and insurance (BFSI) firms, including 56 capital markets institutions, to understand their perspectives on emerging risks and RiskTech adoption. The report details the challenges faced by capital markets firms, particularly in relation to IT and cyber risks, which 86% of respondents identified as highly significant. It outlines how these firms are increasingly reliant on third-party infrastructures, exposing them to various risks, including supply chain vulnerabilities. The report also discusses the uneven adoption of RiskTech across different risk types and highlights the need for capital markets firms to enhance their operational resilience through better integration of RiskTech solutions. Additionally, it emphasizes the importance of addressing technology and operating model challenges to effectively manage emerging risks and maintain a competitive edge.