Enterprise and Operational Risk Management in the ePayment Landscape

In the evolving financial landscape, electronic payment (e-payment) systems have become the backbone of global commerce. These systems facilitate real-time transactions, cross-border payments, and enable the seamless operation of online financial services.

However, the growing complexity and interconnectivity of
payment systems expose financial institutions to various risks, particularly operational risk.

eOperational risk refers to the potential losses resulting from inadequate or failed internal processes, people, systems, or external events. This risk is particularly
heightened in e-payment systems due to the reliance on technology, real-time processing, and the need for stringent security protocols.

Hence, financial institutions need to identify, manage, and control these risks using identified tools and techniques
proactively to safeguard their organizations