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Key Findings from Bank Director’s 2024 Risk Report

Report | Jun 18, 2024

2024 Risk Survey Bank Director report - Key Findings from Bank Director's 2024 Risk Report

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Summary of 2024 Risk Survey for Financial Institutions and Insights for Fintechs

The Bank Director's 2024 Risk Survey highlights numerous rising risks and issues that banks and financial institutions are facing as a result of developing regulatory and economic situations. Below are some important areas of concern applicable to the financial sector for review

1. Regulatory and Compliance Risks

  • Increased regulatory requirements are a major worry for financial organizations.
  • Over 75% of executives are concerned about regulatory risks, compared to 66% last year.
  • New restrictions and monitoring, like the Community Reinvestment Act, have significantly contributed to this worry.

2. Margin Pressures and Profitability

3. Deposit Retention and Liquidity Management

  • Rising interest rates have caused some deposit losses, with 59% of banks reporting low to moderate affects on their funding base.
  • Banks raised deposit interest rates and borrowed from Federal Home Loan Banks to address liquidity risk concerns (76% increase).

4. Supervisory Exams and Compliance

5. Strategic Challenges and Risks


Bank Director Risk Heat Map - Key Findings from Bank Director's 2024 Risk Report

Image: Bank Director 2024 Survey, Risk Heatmap

Opportunities and Insights for Fintechs

  • Fintechs should create strong and agile compliance frameworks to effectively traverse increased regulatory scrutiny.
  • Given the tremendous pressures that traditional banks face, innovative solutions that optimize net interest margins may be useful.
  • Strategies for increasing client loyalty and managing deposit retention in a high-interest environment are critical.

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  • Providing improved liquidity management tools could help financial organizations reduce the risks associated with fluctuating interest rates.
  • Implementing cutting-edge technologies for risk management, regulatory compliance, and operational efficiency can provide fintechs a competitive advantage.


As regulatory pressures increase and economic conditions shift, financial institutions must improve risk management and operational efficiencies. This environment is a tremendous opportunity for fintechs to innovate and offer solutions to these crucial issues.

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Fintechs can position themselves as important partners for banks navigating this challenging situation by focusing on compliance, customer retention, liquidity management, and the use of sophisticated technologies. Those who can respond quickly and strategically to emerging threats and opportunities will help define the financial sector's future.

NCFA Jan 2018 resize - Key Findings from Bank Director's 2024 Risk ReportThe National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit:

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