Abstract
The purpose of this study is to identify the Fintech driven operational risk events
as no historical data is available. For this, the study reviews the literature to list
down possible OR events which may trigger OR in banks, having collaboration
with Fintech firms. In second phase, banks’ operational risk analysts and managers
are asked to give their opinion on the 23 potential OR triggering events in the form
of experts’ questionnaire. In next phase, after collecting questionnaires back from
experts, Lawshe’s approach is applied and Content Validity Ratio (CVR) is
calculated. As a result, 18 items having CVR greater than cutoff value of 0.42 are
retained as valid and contextual in identifying Fintech driven operational risk. The
results of study are significantly important for banks adopting Fintech nosiness
model led innovative financial products and services to identify new risk and
review their existing operational risk management framework, besides giving the
regulators an insight into reviewing Regtech processes to inculcate the Fintech
driven changes in processes and business models.
Fareeha Khalil , Hassan Mobeen Alam. (2020) Identification of Fintech Driven Operational Risk Events, Journal of the Research Society of Pakistan, Volume 57, Issue 1.
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