Bank of Israel calls on banks to improve tech risk monitoring

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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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