With many European countries slowly starting to come out of the economic downturn, the focus is on what caused this situation and what the financial services industry can do to ensure that it doesn't happen again.
While many financial institutions recognise the need to more effectively manage risk, many still have not taken the crucial step of integrating risk and performance management.
If risk management is not incorporated into the decision-making process, banks will be unprepared to deal with rapidly changing market conditions that could cost them billions and can ultimately impact an entire country's economy.
To assess the extent of this situation, Oracle Financial Services recently completed a pan-European research programme to examine these issues in detail and identify the steps that financial institutions need to take to fully integrate risk and performance management systems.
The European Confidence Report is based on a survey of 450 financial services and IT professionals across Europe. The study assessed how financial institutions are integrating risk management into the decision-making process and how IT affects their ability to do so.