By the time you finish reading this sentence, the world of cryptocurrency and digital assets may have already evolved

The rapidly expanding cryptocurrency market can feel confusing, overwhelming, and too volatile to even know where to start. But there's an opportunity for banks and financial services institutions to adapt to new marketplaces, which generates new business and help customers.

The challenge is identifying where cryptocurrency presents a threat – and where it presents you with opportunities.

Can you keep pace with cryptocurrency risk as it’s introduced to your organization?

Bitcoins, blockchains, Ethereum, Dogecoin, smart contracts, NFTs … cryptocurrency is a world full of strange names and acronyms. It’s also quickly altering the financial landscape.

Capital and customers are flooding the cryptocurrency market, and partnerships are being forged with banks and financial services institutions. If you aren’t exploring how your organization can adapt to cryptocurrency trends and interest, your customers may find someone who can.

You need a trusted adviser who can help you navigate the constantly shifting landscape. We can help.

You can find a place that’s comfortable and still manage the risk that comes with cryptocurrency

The progression of cryptocurrency is now impacting banks and financial services institutions. But how can you incorporate the risk introduced by cryptocurrency into your organization?

Regulators are closely monitoring alternatives to the fiat currency traditionally used by banks and financial services institutions. Unregistered cryptocurrency exchanges may find it difficult to survive if they are not compliant.

We understand both the opportunities and risks associated with the cryptocurrency and digital asset markets.

You can use cryptocurrency to position your organization to win the battle for customers

Our experienced team of financial services specialists will make sure you’re prepared for the future and positioned for growth. We can help you take a four-stage approach from ideation to implementation.

1. What’s your cryptocurrency goal? 

Let’s work together to document your objectives, target products, and markets. That will help us identify the “what,” “who,” and “why” questions that need to be answered to define success.

We can help you understand the potential risks you face by:

  • Analyzing your organization’s risk universe
  • Determining your risk applicability
  • Identifying your risk appetite
2. How will risks associated with cryptocurrency impact you? 

We’ll examine the regulatory, legal, and reputational impacts faced by your organization. Based on your goals, we can identify impacted operational and compliance areas.

We can help you assess risk by:

  • Identifying inherent risk factors
  • Measuring inherent risk factors
  • Evaluating inherent risk acceptance
3. What is your risk infrastructure doing today? 

Your financial institution will inevitably be exposed to new cryptocurrency risks. We have the ability to help you understand what that means for your current risk management program.

We can identify gaps in your current controls and process and create a plan to mitigate risk.

We can help you assess a control environment by:

  • Evaluating current-state controls
  • Evaluating control needs and conceptual planning
4. How long will you need our help? 

You decide how you want us involved. We can be your cryptocurrency coach and support your processes, including planning and development, internal approval, design, and implementation.

We can help you create a plan by:

  • Determining the cost of your strategy
  • Recommending control environment enhancements

We can provide you with a road map and directions for a complex landscape

There’s a lot to think about when it comes to cryptocurrency. From technology to strategy, our team has deep industry knowledge and experience that can be used to help you in many areas.

Financial crime

Face compliance with confidence by gaining a situational understanding of financial crime regulations.

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Third-party risk management

Find out if any of your vendors present major risks for your institution.

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Credit solutions

You can improve your lending practices and address risks with our suite of credit offerings.

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Face compliance with confidence by gaining a situational understanding of financial crime regulations.

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Find out if any of your vendors present major risks for your institution.

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You can improve your lending practices and address risks with our suite of credit offerings.

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Internal audit

Benefit from a value-added approach that can prepare your organization for future challenges.

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Regulatory response

Whether you’re dealing with a regulatory action or getting up to speed on a new rule, we can help.

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Technology and data consulting

Discover how innovative technology and analytics can help you do more while using fewer resources.

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Benefit from a value-added approach that can prepare your organization for future challenges.

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Whether you’re dealing with a regulatory action or getting up to speed on a new rule, we can help.

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Discover how innovative technology and analytics can help you do more while using fewer resources.

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Cybersecurity

Protect your financial institution while you continue to evolve, stay competitive, and serve your customers.

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Privacy

Make sure your data collection and analysis methods are up to date.

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Protect your financial institution while you continue to evolve, stay competitive, and serve your customers.

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Make sure your data collection and analysis methods are up to date.

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Featured insight
Learn more about a proposed bipartisan infrastructure bill that will be funded in part by reporting for cryptocurrency and digital assets.

Let’s see how we can help you

The customer demand for new options related to cryptocurrency and digital assets is only going to get bigger. Get in touch to see how a risk-based approach can connect the processes and programs you need to handle new opportunities.
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There's a lot of money flowing through the cryptocurrency market. We can help you chart a long-term strategy

We understand the new dimension of threats being introduced by the cryptocurrency market and how it’s affecting the financial landscape. We’re here to listen to your needs, focus on how we can help, and implement new mechanisms that provide you with an opportunity to both grow your portfolio and maintain a risk-based approach to new products and services.

Let’s have a conversation about your cryptocurrency concerns and how you might be able to take advantage of the opportunities in an ever-expanding market.