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Digital disruption tops banks emerging risks

Emerging technologies are perceived as the biggest emerging risk for financial institutions, followed by climate risk  and geopolitical tension in second and third place, according to a study by ORX.  Cybercrime is expected to evolve in a similar way to digital transformation. As technologies emerge and transform the industry, they bring with them novel and unexplored potential for cyber criminals to exploit a wider surface area of vulnerabilities.  Dr Luke Carrivick, director of Research & Information at ORX said: “The speed of digital transformation, whilst already evolving at a rapid rate, has been accelerated by the Covid-19 pandemic, with major disruption to industries and how businesses operate.

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