With any new financial product or service that is introduced to the marketplace, we have a responsibility to ensure that the potential risks are clearly identified and measures to mitigate those risks put in place. Financial consumers should not be the ‘laboratory mouse’.
SFIs ought to proactively assess the power and influence of each of their stakeholders as well as the legitimacy of stakeholder claims on financial institutions and design effective strategies to respond to each of the stakeholder claims. Specifically, the power and influence exhibited by the general public and depositors places them as key players in the management of financial institution’s liquidity.