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Banque Cantonale Vaudoise 
Financial services / Banking and Financial Services
Risks
1. Security Risks: BCV will need to invest heavily in cyber security measures to protect their highly sensitive financial data from hackers and malicious actors. This will require regular monitoring and updating of their security protocols and systems to respond to the changing threats posed by cyber criminals.
2. Compliance Risks: BCV will need to ensure its digital transformation plans are compliant with the regulatory standards required by governmental bodies and other industry standards.
3. Cultural Risks: As BCV moves towards digital transformation, it will need to ensure that its employees understand and embrace the change, as well as encourage innovation and collaboration. Without the proper culture in place, the digital transformation could be hampered and ultimately fail.
4. Data Loss Risks: At times, the digital transformation process can result in data loss due to human error or technical issues. BCV will need to develop a strategy and protocols to address data loss risks and be prepared for disasters.
5. Financial Risks: BCV will need to be aware of the financial costs associated with digital transformation, both short and long-term. There may be significant short-term financial investments required for development of the transformed platform, as well as long-term costs related to maintenance and upgrades.
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