In this era of economic shocks, local banks have to rethink the way they manage risk.
Traditional banking models cannot depend on risk assessment tools of the past; the future is in institutions that harness data driven strategies to predict, mitigate and react to threats before they escalate.
This article takes a look at how modern risk management is helping local banks to become more resilient and ready to weather financial storms, while ensuring a stable future in an uncertain world.
Introduction In 2018, when Zenith Bank Nigeria noticed unusually high transaction patterns across several accounts, it was not human analysts who sounded the alarm; instead, it was its newly deployed data analytics system.
