Bridgeforce Interviewed on Risk Management by “Business Reporter” for “The Telegraph”
Bridgeforce’s Adam Thornber was interviewed as part of a series on risk management from the Business Reporter, a branch of The Telegraph in the United Kingdom
Bridgeforce, a multi-national consulting firm focusing on consumer and small business lending and payments, was selected to participate in part of The Telegraph’s 2016 Business Reporter Risk Management Series. The series is also produced in conjunction with the Institute of Risk Management.
The purpose of the series is to profile experts on risk management, providing insight into some of the issues facing the industry to help executives gain a greater understanding of the challenges and strategies to drive business growth.
In the interview, Adam Thornber, Managing Director of Bridgeforce, explained the industry’s current state and describes how to effectively use a risk management framework to not only manage the regulatory environment, but to also improve profitability.
Adam shares that today’s environment “…is amplified by the fact that the consumer’s relationships with banks and lenders is far more complex than before.” He continued by saying “The good news is that there’s a solution to this problem, which enables you to meet your compliance regulations, but also improve profitability.”
The key takeaways from the interview are:
1. Financial institutions have made great strides in risk management since the financial crisis, due to significant investments of time, money and resources.
2. While the risk management task facing financial institutions is far greater than before, it is manageable.
3. Risk management frameworks need to be adaptive to changes in regulation and customer expectation.
4. Establishing an effective risk management framework can be used as a path to greater profitability, it can provide an additional level of data that allows the business to make more informed decisions to make processes more efficient and improve the customer experience.
Access to the video can be found here.
Business Reporter is an online resource delivering news, features and analysis around the critical issues affecting business and management. Information on Business Reporter can be found at http://www.telegraph.co.uk/sponsored/business/business-reporter/.
Bridgeforce is a specialized multi-national consulting firm serving a variety of clients involved in almost all aspects of the consumer and small business lending and payments space. Over 75 percent of Bridgeforce consultants come directly from client-side leadership positions across multiple parts of the credit lifecycle. Combined with subject matter expertise in operations, technology, strategy and regulatory issues, Bridgeforce has the knowledge and experience to make the hard choices in developing and implementing best-fit solutions that are both achievable and lower the risks of execution to ensure sustainability. Bridgeforce success can be attributed to a culture fostering innovation and evolving experienced-based best practices recognized within the industry. For more information, visit https://bridgeforce.wpengine.com.