RISK MANAGEMENT
70 for weaknesses , regulatory compliance breaches or implementation issues .
This has particular relevance to banking , specifically digital banks ( neobanks , challenger banks , etc ) like Revolut , N26 and Monzo , although it is also invariably true of traditional banks upgrading their tech infrastructure . Posing enticing targets for cybercriminals , VCs must consider that banking startups need solid system architectures .
McKinsey states in ‘’ The ghost in the machine ’: Managing technology risk ’: “ Many banks now find that [ new software and systems ] are involved in more than half of their critical operational
OCTOBER 2020