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I’ve been in this business long enough to know one thing: corporate priorities change with the times, but the fundamentals of survival never do. And yet, as we move into the future, something radical is happening in the corporate world, particularly in industries like Non-Banking Financial Companies (NBFCs) and Information Technology Enabled Services (ITES).
For decades, the language of competition has revolved around cost, efficiency, and innovation. We applauded those who could cut faster, scale bigger, or push out the next tech solution. Risk management? That was the insurance policy. The quiet department that came in after a problem occurred.
But that script will flip. Risk management will not only support the business; it will also help the business. It will be the business. In fact, I’ll go as far as saying this: strategic risk management will be more attractive than innovation. Why? Because in a world this volatile, clients will pay for resilience, not rhetoric.
The New Corporate Currency: Resilience
Think about NBFCs for a moment. They thrive on agility, serving segments that traditional banks often underserve. They innovate in credit, payments, and digital lending. But all of this rests on a single fragile foundation: trust.
One cyber breach, one compliance lapse, one regulatory penalty and that trust evaporates overnight. We’ve seen it happen, and when it does again, NBFCs won’t be able to hide behind “we’re still learning.” Clients, regulators, and investors will demand real-time visibility into risks. They’ll expect assurance that compliance isn’t just a legal requirement but a culture.
Risk management, in this sector, becomes the difference between survival and shutdown.
Now consider ITES. It’s an industry that built its empire on scale. From customer support to financial services outsourcing, ITES providers promised efficiency and continuity. But global reach brings global risks.
A protest in Manila. A flood in Chennai. A cyberattack in Eastern Europe. Each of these has already happened. Each of them interrupted service delivery for global clients. Soon, those clients will have no patience for excuses. They’ll pay a premium to work with providers who can prove that resilience is embedded in their operating model.
And that’s the pivot point: outsourcing will shift from a cost conversation to a trust conversation.
Why the World Will Be Less Forgiving
The world is not getting calmer. It’s getting noisier, faster, and more interconnected. Risks that once seemed “local” now ripple across supply chains and financial systems in hours.
- Geopolitics: The rise of multipolar competition means NBFCs and ITES providers with global footprints must navigate sudden regulatory changes, sanctions, and trade disputes.
- Climate: Extreme weather is not a distant scenario. Floods, heatwaves, and storms are already disrupting operations in India and beyond. Ignoring climate risk will be perceived as a form of negligence.
- Cybersecurity: Every digital transformation brings convenience but also introduces vulnerability. Clients will no longer tolerate downtime because of ransomware. They’ll want to see tested incident response plans.
- Regulatory Pressure: NBFCs face expanding oversight. Transparency and auditable compliance will be non-negotiable.
If you think this sounds alarmist, let me be clear: this isn’t fearmongering. This is forecasting based on the trajectory we’re already on. The companies that survive won’t be the cheapest or the flashiest. They’ll be the ones who can look a client in the eye and say, “Whatever happens, we’ll keep you running.”
Technology: A Tool, Not the Silver Bullet
Let’s be honest: every time the future of business is discussed, the same buzzwords show up. Artificial intelligence. Blockchain. Digital twins.
Yes, these technologies matter. They will transform how we forecast, audit, and test resilience. AI will help us see patterns in global risks before humans can. Blockchain will make compliance checks transparent and tamper-proof. Digital twins will allow companies to simulate a crisis before it hits.
But here’s my director’s warning: technology alone won’t win this battle. Everyone will have access to tools. The difference lies in how leaders utilize them.
A shiny new AI platform is useless if it isn’t tied into boardroom decisions. Blockchain won’t impress regulators if compliance isn’t embedded in culture. Digital twins mean nothing if leadership ignores their warnings.
The companies that succeed will be those that integrate technology into their strategy, not just their operations. They’ll use it not as a shield but as a compass.
The Price of Trust
Corporate clients will pay for certainty. Not absolute certainty, nobody can deliver that. But demonstrable resilience. They’ll want to know:
- Can this NBFC absorb a regulatory shock without destabilizing its balance sheet?
- Can this ITES provider maintain service continuity if one of its global hubs experiences an outage?
- Can this partner demonstrate, with evidence, that resilience is built into every process?
And yes, they’ll pay more for it. The market will reward resilience the way it rewards innovation today. Companies won’t just advertise their speed or scale. They’ll market their perseverance. “We don’t just deliver; we deliver no matter what.”
That becomes the brand promise.
Shifting from Compliance to Strategy
Here’s the reality I see today: too many companies treat SRM as a compliance exercise. A checklist. Something to satisfy regulators or auditors.
That mindset will soon be obsolete. Strategic risk management will not be about ticking boxes. It will focus on creating a unique selling point.
Let me frame it differently: the question won’t be, “Are you compliant?” The question will be, “Are you resilient enough to carry my business through a crisis?”
For NBFCs, this means embedding security risk management (SRM) into lending decisions, customer communications, and the design of digital products. For ITES, it means integrating enterprise risk frameworks into every service-level agreement.
This is where leadership comes in. A board that treats SRM as optional today is quietly writing its own obituary for tomorrow.
The Human Factor in Risk Strategy
Here’s something that often gets lost in these conversations: technology and frameworks don’t run companies. People do.
The human factor in risk strategy will matter more, not less. Resilience will depend on whether leaders can foster a culture of security, accountability, and foresight.
- Do employees understand their role in promoting resilience?
- Are managers empowered to make risk-based decisions in real time?
- Is leadership prepared to be transparent with clients when a disruption occurs?
You can buy all the technology in the world, but if your people aren’t aligned, your risk posture is hollow.
From Insurance to Strategy: The Director’s Call
I’ve spent years in rooms where risk management is discussed as if it were an insurance policy— something you need but hope never to use.
That way of thinking is dead. SRM won’t be insurance. It’ll be a strategy. It will shape boardroom decisions, investor confidence, and client relationships. It won’t be hidden in the back office; it will sit at the front of the pitch deck.
And here’s the final punchline: resilience will sell.
Companies that treat SRM as a cost center will eventually fade. The companies that treat it as a competitive advantage will dominate. Because clients, regulators, and investors will no longer tolerate weakness.
Closing Thought: Resilience as Competitive Advantage
When people ask me why I talk about SRM with such urgency, I give them this analogy: innovation gets you to the starting line. Corporate resilience gets you across the finish line.
In the future, corporate clients, especially in NBFCs and ITES, won’t choose partners based on who runs the fastest. They’ll choose the ones who don’t stop running when the storm hits.
That’s why I say, the future of risk management will be more attractive than innovation. And if you don’t believe me now, just wait.
