The application of behavioral science to mitigate operational risks in the financial sector is gaining traction. Early innovators in applying behavioral risk within their organizations include ABN Amro, NatWest Group, and ING. Other financial institutions are now following suit, as they seek to identify behavioral “hot spots” within their organizations.
“We believe the behavior of our employees and leadership, and the choices that they make is the outcome from all the signals they get from our organization as a whole,” said Wies Wagenaar, Head of Compliance, Conduct & Ethics at ABN Amro.
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