TECHNOLOGY
Resilience and working from home One of the biggest , beneficial changes to take place in terms of risk resilience in the business world has been the remote workforce mandate .
Martijn Groot , VP of Strategy , Alveo , a technology company based in the Netherlands , says the move has resulted in the provisioning of robust infrastructure to support it , providing a far more agile operating model .
However , although business models have become more resilient , the move has also created vulnerabilities . He explains , “ With immediate operational resilience and infrastructure challenges now resolved ,
The war on talent
The war on talent Robert Zondag , senior manager at the fintech accounting and consulting firm , Wipfli , believes protecting the workforce and holding on to talent will be essential for fintechs in the event of another recession . He says , “ Fintechs should really focus on continuing to attract and retain talent in a market that is seeking employees at all levels while monitoring the pulse of the potentially dramatic and quickly evolving market changes . “ As the number of vendors increases due to outsourcing and infrastructure needs , vendor risk management platforms are becoming more front and centre . With same-day payments and the continuing increased movement towards P2P , pressures continue to remain in payment platforms , providers and integration into core and legacy systems .”
“ CONSOLIDATION OF FINANCIAL SERVICES IS KEY , WITH AMBITIOUS BUSINESSES LOOKING FOR SINGLE-PORTAL ENTRY FOR PAYMENTS , CREDIT , FX AND OTHER SERVICES ”
the focus has largely shifted towards the acceleration of cloud migrations . Basic bandwidth and infrastructure aside , remote working has exposed additional data management challenges , including data access , permissions , workflows , and user rights .”
It ’ s also worth remembering that investment caution has reached unprecedented highs during the pandemic – an aspect that has curtailed development in an industry going through its growth spurt stage .
Kevin von Neuschatz , Group CEO ,
Stanhope Financial Group , points out that this , along with fragmented teams , has not been immediately helpful . “ Investors are cautious that emerging