Operational resilience is a set of techniques that allow people, processes and informational systems to adapt to changing patterns. It is the ability to alter operations in the face of changing business conditions. Operationally resilient enterprises have the organizational competencies to ramp up or slow down operations in a way that provides a competitive edge and enables quick and local process modification.
Resilience has recently become the latest global hot topic in many industries, including financial services. As many major companies still rely on old, complex and silo-structured IT landscapes and operate equally outdated and disconnected processes, achieving operational resilience has become a crucial goal for companies looking to survive the next crisis. Moreover, customer needs – in any industry – are ever-changing, and many organisations have often used a tactical approach to meet such needs, instead of strategically considering how to integrate new processes and services into their business in a holistic way.
