Costs are certainly associated with these but the benefits accruing on account of reduced impact of IT security breaches more than compensates for the costs incurred in this regard. vi. Thou shall provide for optimal Business Process Re-engineering. Most IT implementations in the Indian Banking scenario are replicas of the manual work processes which have been only tweaked to perform in an IT-enabled environment.
This strong performance has occurred concurrently with institutions’ continued efforts to improve their risk-identification and management strategies. That said, certain areas in banking operations, such as credit concentrations and business continuity planning, are placing pressures on risk-management systems.