Rethinking risk after the SVB collapse

The stunning collapse of Silicon Valley Bank and other banks in early 2023 has reframed how the industry is thinking about risk.

Joan McGowan and Tom French from SAS join us to offer advice to banks and credit unions on how to better address the many risks they face.

A few takeaways from the conversation:

• SVB’s collapse in barely 48 hours makes clear that existing crisis response plans are inadequate – banks need to be able to make emergency decisions more in real time.
• To move faster, decision-making will have to be decentralized – shifting from upper management to closer to the business front lines via data gathering and analysis. 
• A couple of pro tips for financial institutions: Examine the end-to-end customer journey to identify fraud weaknesses and have a well-thought-out plan for dealing with trouble.