infographic in RegTech solutions , ahead of the global average of 37 %.
• 63 % of firms will focus their regulatory and compliance investment on enhancing riskmanagement capabilities . Buy-side firms showed the greatest appetite , with 70 % planning to invest in risk management in the next 12 months .
• 55 % of firms said tech vendors can add greater value in helping to strengthen risk management , compared to the global average of 39 %.
“ Intensifying cyber and fraud risks and new demands on risk management are also presenting some of the biggest short-term operational and technology challenges for firms .
“ The good news is that Australian firms are starting to take action to respond to the changing risk landscape . A significant 43 % of firms view investments in RegTech solutions to strengthen cyber and fraud risk defences as a competitive advantage , ahead of the global average of 37 %.
“ We are witnessing a surge in demand for robust RegTech and surveillance tools across operations . As risk management takes centre stage , Australian capital market firms are acting fast to answer the call and up their investments in their risk capabilities to cement their position as global leaders .” u
Ashish Rai , Group Managing Director , APAC and MEA , Capital Markets , said : “ COVID-19 has brought about a big shift in future of work trends . With vaccination rollouts underway , inevitably some percentage of the workforce will return to the office , however many will likely remain at home .
“ Changes in working culture are expected to be permanent and this has many repercussions on capital market firms in Australia . The rise of a remote workplace is shining a spotlight on logistical and security challenges , as indicated by 37 % of firms surveyed in our Readiness research .
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