How it affects your business

Technology is a major internal and external influence in the financial services sector. Not only does it allow new market entrants to offer products directly to consumers, it also gives customers more power. They have new and better ways to research and compare financial products and services, and the tools are changing how they want to manage their money or alter their financial investments.

E-banking alone has created many advantages, such as expanding a business’ global reach, providing more ways to market for new entrants, giving customers 24- hour access, and cutting transaction costs for the banks.

However, e-banking also presents challenges, such as monitoring and ensuring the security of an institution’s platforms and the sensitive data they hold.

How Grant Thornton can help

We have a team of specialists in IT audit, security, data, project and third-party assurance that has worked with financial services organisations of all sizes.

Our team includes audit and risk experts who have held senior positions in the financial services sector, as well as technology specialists with experience in areas such as:

  • IT risk management
  • data analysis
  • data privacy
  • data compliance
  • data management and modelling
  • system development
  • IT operations
  • IT and data security
  • IT and business process outsourcing
  • enterprise resource planning technology
  • cost reduction