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Securing financial institutions: 2019 Canadian CEO Outlook

Securing financial institutions: Canadian CEO Outlook

Canadian consumers are putting pressure on FIs to deliver innovation without compromising security

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John Armstrong

National Industry Leader, Financial Services

KPMG in Canada

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Transformation is a recurring theme for CEOs around the world as they are acutely aware of the technologies, competitors, and workforce trends at their doorstep, and many are making agility and innovation their priority. Canadian CEOs are no different, although current strategies and concerns reveal room to grow before they can lead their international peers.

For Canadian financial institutions, consumers are putting pressure on them to deliver innovation without compromising security. Back office processes, D&A, and partnerships with smaller fintechs are just a few of the ways that FIs are responding to this challenge.

CEOs of FIs need to focus on the following key areas:

  • Align cyber security with broader risk management strategies
  • Let regulations guide good practice and build customer
  • Streamline third party risk management programs
  • Drive cyber governance and oversight from the top
  • Strike a balance

Download the full report to learn how Canadian CEOs are bracing for the changes ahead. If you would like to talk to our professionals about the perspectives and issues raised in this year's report, we welcome the opportunity to discuss how your business can gain from these insights.

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