Driving Innovation, Resilience, and Regulation in Banking and Insurance: Insight from ISG SourceIT

It was my pleasure to lead a panel featuring prestigious leaders from the Banking, Financial Services, and Insurance (BFSI) sectors during ISG SourceIT Paris 2024 last week.

Together, we explored the critical themes shaping the future of procurement and sourcing in the Banking, Financial Services, and Insurance sector:

• Technological Innovation: From AI and automation to cloud adoption and emerging technologies, innovation is transforming operational models, enhancing efficiency, and enabling smarter decision-making.
• Regulatory Pressures: Regulations such as the Digital Operational Resilience Act (DORA) are redefining the way organizations manage risks, compliance, and resilience in an increasingly complex environment.
• Operational Resilience: Ensuring agility, risk management, and sustainability are embedded into procurement strategies to meet both present and future challenges.

We highlighted how the convergence of AI, cloud, and evolving technologies is reshaping procurement, requiring organizations to balance innovation with stringent regulatory compliance and risk management.

A special thanks to Sylvie Noel, CEO of ADRA (Association des Directeurs et Responsables Achats), for her valuable insights and leadership during the panel. Her expertise in procurement transformation and strategic sourcing was instrumental in helping me driving the discussion.

As the Banking, Financial Services, and Insurance sector continues to adapt to innovation, regulation, and resilience, collaboration, thought leadership, and forward-thinking strategies will be key to future readiness.

A huge thank you to all the participants and panelists for their thought-provoking contributions and to ISG for organizing this impactful event!

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