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ProSight and Oliver Wyman Release Risk Outlook Survey: Banks See Opportunity to Remake Risk Management

MRSH
  • The 2027 ProSight Risk Outlook Survey of 160 financial services leaders reveals AI is central to transforming risk functions.
  • 78% of respondents agree regulatory requirements are less prescriptive, while 87% view this as an opportunity to optimize risk processes.
  • Technology risk (64%) \& fraud remain top concerns, driving transformation efforts in cyber risk, operational resilience, \& financial crime.
  • 39% of banks believe AI could transform credit risk within 2-3 years through streamlined underwriting \& continuous monitoring.
  • Banks prioritize faster response times \& improved risk quality over cost reduction, using savings to re-invest in operations.
  • 64% of institutions already use AI in risk functions, with another 26% running pilot programs.
  • 49% cite data quality \& availability as the primary barrier to further AI deployment.
  • 65% expect regulatory pressure on AI practices to intensify in the coming year.
  • AI acts as a dual force, amplifying cyber \& fraud risks while providing tools to automate workflows \& support decision-making.
  • Risk leaders aim to shift from post-event review to becoming strategic partners that integrate risk into business decisions.
  • The survey was conducted in August \& September 2026 in collaboration with Oliver Wyman.