Financial institutions departments run multi-departmental transactions like complex credit facility approvals and limit utilisation processes. They benefit from attributes like flexibility, standardization, effectiveness, transparency and efficiency. RISQ l financial institutions introduced those attributes to ING through:
-Digitalization, automation and integration that derive from contemporary technologies
-Monitoring, reporting and cross-departmental communication channels
-Effective end-to-end life cycle management
-Reducing operational risks with auditing activities and subjecting them to multi-level approvals
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