This cost saving highlights the potential impact of reducing the administrative burden for financial institutions, in particular as a result of eliminating double incident reporting. The EU Impact Assessment report illustrates this by estimating potential savings in the banking sector at between €29million and €68 million, calculated with reference to the IT budget of six top EU banks.
Semantic Risk addresses this challenge by using advanced AI to effectively predict and manage the risk of incidents. This frictionless proactive assessment approach will ensure a more secure and stable digital ecosystem for our customer base.
