The 3 False Gods Of Financial Services

June 2009
Securities Industry News;6/22/2009, Vol. 21 Issue 14, p4
Trade Publication
The author comments on the failure of financial service providers to imbibe the fundamental underpinning of the financial service industry, namely capital adequacy, risk management and straight-through processing, into their industries business model. He notes that financial firms were unable to measure and control the risk that they are exposed to because of the lack of transparency with their businesses. He argues the inability to monitor risks in the real-time context is caused by the failure to aggregate basic risk management data.


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