Business and Finance
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Business and Finance
Source : (remove) : Businessworld
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Building resilience in the financial sector

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  The financial industry's growing reliance on technology is heightening the risk of failure points linked to unregulated third-party connections. These weaknesses can be targeted by malicious entities,

The article from MSN discusses the importance of building resilience within the financial sector to withstand economic shocks and crises. It highlights how regulatory bodies and financial institutions are focusing on enhancing risk management practices, improving capital and liquidity requirements, and adopting advanced technologies like AI and machine learning for better predictive analytics and fraud detection. The piece also touches on the need for stress testing, scenario analysis, and the development of robust recovery and resolution plans to ensure that financial entities can manage and recover from adverse conditions. Additionally, it emphasizes the role of international cooperation and information sharing among global financial regulators to address systemic risks and promote stability across borders. The overarching theme is the proactive approach to safeguard the financial system against future uncertainties through a combination of regulatory measures, technological advancements, and strategic planning.

Read the Full BusinessWorld Article at:
[ https://www.msn.com/en-ph/money/financial-regulation/building-resilience-in-the-financial-sector/ar-AA1BWOuH ]