About the Industry
The financial industry (FI) is the pioneer in ERM and BCM history, commercially.
Many financial institutions in the region, including banks, insurance companies, securities firms, and stock exchanges, have already established their programs. The challenges these financial institutions face today include but are not limited to Anti-Money Laundering, compliance, cybersecurity, TVRA, and meeting regulatory requirements. On one hand, financial institutions need robust technology to host highly secure applications, while on the other hand, they must ensure ease of use for users, such as mobile payments. The emergence of fintech companies and cryptocurrencies presents both opportunities and threats to these financial institutions.
BCP Asia's Experience
Several of BCP Asia’s consultants began their careers in the global financial industry, particularly in major banks. With this experience, they possess in-depth knowledge of the organizational structure and operations, whether at the local, regional, or global level. Over the years, despite changes in the industry, core functions such as front office and back office operations have remained consistent.
Since inception, BCP Asia has run more than 30 projects for Financial industry, located in Singapore, Thailand, Hong Kong, China, Malaysia, Brunei, Indonesia and Saudi Arabia. Financial Institutions are a mature industry for BCMS, thus the types of services and requirements by different service type or countries may differ. In a highly regulated environment, fast pace technology changes and the demand of clients for the ease of use of systems, how can Financial Institutions assess their risks to fulfil the demands and needs of different stakeholders?
Contact us if you are keen to know more on how we put the ITDRP, BCMS and ERM program in place for the industry that aligns to best practices or leads to certification.