FINASTRA platform , for instance , is the foundation for Finastra ’ s Banking as a Service ( BaaS ) proposition . An open developer platform for innovation , with over 150 apps , it ’ ll lead the way in which solutions are written , deployed , and purchased . The platform enables organisations to access capabilities that extend core solutions and , in turn , will help financial institutions bring relevant solutions to their customers .
‘ Since we collaborate with a network of infinite developers , we can far surpass what Finastra ’ s developers can do alone ’, Elona explains . ‘ As our suite of apps and solutions grows , it creates opportunities for traditional and non-traditional banks and , ultimately , for Finastra and its customers . It increases their relevance and scale — and consequently , their growth and digital transformation ’.
Digital Risk Management With digital transformation being a key driver for financial services institutions , how does it impact risk management ? ‘ On one hand , digital evolution introduces new risks ’, Elona explains . On the other , risk management has turned to digital tools to cope with COVID-19 . ‘ Reliable and timely data coupled with the ability to automate and analyse risks is critical to driving insight ’, she adds . But is tech always the answer ?
To answer that , let ’ s return to Elona ’ s vision of risk management as an art . ‘ We have a proliferation of tools ’, she says . ‘ But they can never fully replace professional judgement and a healthy dose of scepticism . If something doesn ’ t seem right — even if the data says it ’ s perfect — I trust my team ’ s intuition and expertise ’.
Agile Operations The pandemic has accelerated digitalisation — and risk management is
EXECUTIVE BIO
ELONA RUKA-WRIGHT
TITLE : CHIEF RISK OFFICER INDUSTRY : FINANCIAL TECHNOLOGY LOCATION : CENTRAL FLORIDA
Elona recently joined the Office of the CEO , where she heads up Finastra ' s global risk management and governance practices and is the company ' s key liaison with regulatory bodies and auditors . She is accountable for Finastra ' s Enterprise Risk Management framework , strategy and governance , as well as regulatory compliance , enterprise policy governance , client and third-party due diligence , business resilience , crisis management , and internal audits .