Industry Veteran Aligns Innovation with Risk Management in Finance
Across today's financial sector, banks face the dual challenge of managing risk effectively while pushing forward with technological innovation. In 2021, Archana Pattabhi designed and delivered a data science solution at a global financial institution that addresses the risk of end-user computing (EUC). This practical approach changed how banks manage EUC risks while automating essential processes.
The solution, recognized as a runner-up in the innovation sector for 2021, tackles a common problem in banking: the spread of end-user computing applications operating outside formal IT oversight. By automating more than 800 manual touchpoints, Pattabhi's work cut the time needed for regulatory reports from nearly a week to just 30 minutes, showing how smart technology can reduce risk and boost efficiency simultaneously.
End-user computing involves systems where staff without programming expertise create functional applications, typically using spreadsheets and databases to meet business requirements without consulting IT. Banks often turn to these methods because they enable non-technical departments to skip technology delays and produce reports independently, cutting time and costs.
This practice, however,........
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