Bank of Israel calls on banks to improve tech risk monitoring

David Vaaknin

The Bank of Israel is urging banks to upgrade their capabilities in monitoring and controlling technology risks.

This is the main conclusion of a report published by the central bank’s banking supervision department on June 21. The study includes an examination of the technological risk governance regime in the Israeli banking system and recommends a series of steps to tackle risks stemming from the technological transformation of the financial sector.

The Bank of Israel’s examination

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