Trust in Tech

EY EMEIA Financial Services Women in Technology Magazine 'Trust in Tech'

Welcome!

We’re delighted to welcome you to the latest edition of the EY Women in Technology magazine: Trust in Tech. Covering the latest technology trends − this magazine series is designed to unlock insights, provide tips for success, and drive positive change in the industry.

Trust plays a critical role in our willingness to adopt and depend on new technologies that are now a part of our daily lives. So, this fourth edition focuses on the importance of trusting in tech and how EY, our clients, and alliances are building trust in technology to benefit people, organizations and society.

Image of Ayman Awada.

Click the play button below to hear directly from Nina Driscoll, EY EMEIA Financial Services Banking Technology Markets Leader on the importance of trust in technology and what you’ll gain from reading this magazine… 

Image of Nina Driscoll.

 

Click here to view an accessible version of the magazine.

In this edition_______________ 

Explore our six magazine chapters by clicking the page links on the right-hand side.

As technological advancements are expected to significantly affect the workforce − it’s a critical time for organizations to focus on building trust in technology.

– Anne-Marie BalfeEY EMEIA Financial ServicesTalent Leader
Image of Anne-Marie Balfe. Robot and person shaking hands.

Security and Reliability

Image of Veronique Haccoun.

The EY difference? Increase  trust by combining technological innovation accelerators and regulation to decipher, detect, and defend against financial crime. 

– Veronique HaccounPartner, Forensic Financial Services EY Advisory

Through steadfast innovation, EY is crafting a new blueprint for trust; transforming the fight against FinCrime in the financial industry.

– Vanessa JolivaltEY EMEIA Financial Services Assurance Innovation Leader
Image of Vanessa Jovilat.

Innovation helping mitigate FinCrime in financial services

Embracing innovation is crucial in combating FinCrime for financial firms, driven by the increased focus on sanctions and the exponential rise of fraud and scams, e.g., by implementing robotics, we can significantly reduce alert processing time by up to 60%.

While obtaining these efficiency gains, institutions also need to adherence to risk management protocols. For example, alerts related to asset freezing are preliminarily detected by automation but are manually confirmed. 

This approach enables time-sensitive, critical tasks to be streamlined without compromising the rigorous standards required within the financial services industry.

AI continues to help fight FinCrime

AI plays a transformative role in fighting FinCrime. Its ability to analyze enormous data sets enables AI to spot suspicious activities, such as unusual money transfers or identity theft patterns, more accurately and swiftly.

Additionally, machine learning (ML), a subset of AI, constantly improves detection systems by learning from each transaction. For example, AI can identify complex laundering schemes which human analysis might overlook.

Common threats and supporting firms

Some of the common threats confronting EY clients include money laundering, fraud, cybercrime and sanctions breaches. 

To support clients, EY teams help implement leading-edge technologies such as AI and ML, which help detect and prevent illicit activities by enhancing anomaly detection and pattern recognition. Hands-on training, catered to the clients' needs, builds an informed workforce capable of identifying and  help in mitigating risks.

Educating on cyber-resilience to build trust

Image of Rudrani Djwalapersad.

EY Cybersecurity Lead at EY Advisory Netherlands, Rudrani Djwalapersad has over 13 years' experience in the cybersecurity field and is one of EY’s cybersecurity competence leaders on strategy, risk, compliance, and resilience.

I work across a range of cybersecurity and privacy topics and focus on helping clients to manage their cybersecurity risks while meeting their business strategy needs. I really enjoy working closely with my clients as well as EY people, to make our organizations more secure and resilient against the growing threat of disruption.

We have all witnessed the increasing number of unexpected disruptions hitting businesses impacting their overall performance.

performance. This ranges from natural events and epidemics to technological disruptions such as cyber attacks.

The cost of not being resilient against these disruptions is high − from a loss of trust to impacting revenue, reputation and regulatory security. As such, successful organizations are those prioritizing resilience and sustainability as they seek to future-proof their business.

At EY, we have launched a resilience campaign across our EMEIA region to educate our colleagues on the important topic of cyber-resilience so they can have better conversations with clients and support them in their learning journey. We’ve delivered this via toolkits, learning and a social media campaign.

Trends within the cybersecurity space move incredibly fast, which means we need to be innovative, agile and technologically advanced to minimize cyber threats that can negatively impact organizations.

– Rudrani DjwalapersadPartner, Technology Consulting, EY Advisory Netherlands

Building trust and cultivating reliability through regulation in cybersecurity

Robust legal frameworks are crucial for financial services to support the management and security of relationships, offering clarity and certainty by explicitly determining responsibilities. As digital interconnections expand, systemic cyber threats are intensifying. 

So, how is regulation enabling trust in cyber security?

Regulation and ethical guidelines contribute not only to prevention, but also to developing resilience and maintaining accountable relationships between users, institutions, and stakeholders. The Europe's Cybersecurity Strategy offers an illustrative roadmap for harmonizing the legal framework in the digital economy, notably with the Digital Operational Resilience Act (DORA).

The DORA act, which safeguards the financial services sector, promotes an environment of shared knowledge and coordinated reaction to cyber security incidents, it uses transparency as a key tool to reinforce a collective and efficient resilience.

Compliance is more than a tick box exercise; it's crucial for the digital market's future. 

Image of Sandrine Cullaffroz.

Trust is crucial in the digital economy. It requires constant nurture through ongoing demonstration and improvement. And trust is earned through concrete actions like security, reliability, and    privacy measures that meet regulatory and industry standards.

– Sandrine CullaffrozData Protection Law PartnerEY Société d'Avocats  

How EY is collaborating to fight modern slavery

Inspired by an increasingly uncertain socio-economic climate, our team has converted a passion for improving the lives of those whose voices are often lost in the fight against modern slavery and human trafficking to action, through our Combatting Modern Slavery (“CMS”) initiative.

– Jenny PatwellEMEIA Financial Services Risk Consulting Leader
Image of Jenny PatwellImage of Niamh Davenport.

Starting our journey with a CMS Hackathon

The initiative commenced in May 2023 with a CMS Hackathon co-hosted with the Banking and Payments Federation of Ireland (“BPFI”), intended to galvanize the many and often siloed stakeholders within the financial crime reporting chain to assess;

how we can collectively build and elevate effective controls to detect the diverse financial flows associated with modern slavery and human trafficking

how to prevent traffickers from accessing the legitimate financial system.

It brought together 50 attendees, representing 25 organizations across domestic and international banks, the Central Bank of Ireland, NGOs, vendors, Law Enforcement and consultants, with the aim to answer the problem statement “How can financial institutions take a collaborative, data-driven approach to identifying and reporting indicators of modern slavery.”

Additionally, we heard compelling insights from cross-industry thought leaders. 

Since May, we continue to build on the good will and knowledge built during the hackathon, hosting a working lunch to identify next steps and attending meetings with the US State Department and Europol.

Throughout 2024, we intend to bring the CMS community together to assess how best to support victims of modern slavery and human trafficking, by taking a collaborative approach to prevention and detection, assessing avenues for sharing data with privacy in mind and considering how best to raise awareness about avoiding exploitative labor practices.


Resilience

Image of Laurén Robbins To.

In our increasingly complex world - impacted by pandemics, geo-political events, natural disasters, cyber threats - the resiliency of financial institutions is being tested like never before.

Technology has a crucial role to play in enabling trust by providing visibility across critical business services and automating processes that remediate any potential risks or disruptions.

Laurén Robbins ToVice President, Financial ServicesServiceNow 

Operational resilience and business success in financial services

At ServiceNow, financial services customers rely on our platform to connect the apps, systems, people, suppliers and facilities required to deliver a critical business service. Financial services firms should put themselves in their customer's shoes and think about the things that build trust. There are four key dimensions to maintain customer trust in response to emerging technologies: 

1.Reliability: technology, people and processes that support the customer's daily financial tasks − whether making a deposit, filing an insurance claim, or investing funds − this must be readily available and performing to customer expectations.

2.Security and privacy: financial services firms are custodians of not only financial assets, but also extremely sensitive and private customer data. Customers need regular assurances that their data is safe and being used appropriately.

3.Compliance: customers are aware that financial services firms must follow rules, policies, and procedures that safeguard their best interests. We should not underestimate the customer's awareness of regulatory compliance to make sure the system manages risk and protects consumers.

4.Transparency is essential: as the regulatory and market environment is evolving, financial institutions must assure customers that they are addressing bias in AI by being transparent about the data used to train models and how results were derived.

Learn more about EY and ServiceNow’s strategic alliance here

Laurén’s tips for maintaining a healthy work-life balance working in tech…As a new mom who recently returned to work, I am quickly learning that there is no perfect work / life / family balance! But I have appreciated how motherhood has forced me to be extremely intentional about my priorities at both work and home, and to stay grounded in those priorities. I start each day by writing down my three goals for the day and three things I'm grateful for.

Those goals keep me focused on the most important things for me and my team; and reflecting with gratitude keeps me level-headed in the challenges that the day ahead brings. I've had to prioritize in a way that I haven't before. While making tradeoffs can be difficult, I've found joy in being more outcomes-driven and focused more on the quality of my interactions and work.

Building a resilient technology-driven firm…EMEA Chief Information Officer and Co-Lead of the Global Technology Risk, Governance and Control functions at Morgan Stanley, Amanda Creak shares her perspectives on the importance of resilience and her top tips for building a career in technology.  

 

Fostering a resilience culture in close collaboration with all key stakeholders is critical for success in a trust-based industry.

– Amanda CreakEMEA Chief Information Officer and Co-Lead of the Global Technology Risk Governance and Control functionsMorgan Stanley

The importance of building resilience in financial servicesTo maintain the confidence of customers, shareholders and the broader market, financial service providers must deliver consistent and reliable client service 24/7. Operational resilience is a critical function as it prepares organizations to anticipate and respond to disruptions swiftly and effectively. Ideally, organizations should establish a true ‘resilience culture’ embedded at all levels. 

Evolving technology poses both resilience challenges and opportunitiesChallenge: the growing interconnectivity of the world paired with the complexity and dynamics of financial services demand a tech environment that thoughtfully combines modern development principles with a strong resilience infrastructure. Opportunity: developing an advanced tech stack leveraging cloud, AI, machine learning and an agile developer environment means IT departments can respond swiftly to changing client demands, shifting operating models, and unforeseen events. 

Top tips for progressing a career in technologyThe most successful technologists take the time to understand their business and the problems they are solving, helping them deliver the right client outcomes while sharpening their skills. I recommend approaching a tech career with an open mind. There is an extensive set of roles available in our industry and I’ve seen talented technologists from tech and non-tech backgrounds thrive, regardless of their degree or industry background.

Image of Amanda Creak.Image of Sofia Lundberg.

Senior Cyber Security Consultant at Ernst & Young AB, Sofia Lundeberg shares insight into how the Digital Operational Resilience Act (DORA) is impacting financial services, including her key takeaways from a recent industry event that took place in the Nordics.

A common resilience framework that contributes to trust in technology

DORA is a regulatory framework that entered into force across Europe in January 2023. DORA aims to increase the security for European citizens and businesses by establishing a common resilience framework to help financial institutes avoid, manage and bounce back from disruption.

The financial sector is largely up to speed on how DORA impacts them, however, some parts of the regulation are more challenging. To address some of these challenges, we held a client event in the Nordics focusing on DORA and its impact on both the financial industry and its partners.

Some of the key takeaways from the event include:

It’s a privilege supporting organizations to become more resilient, and help  strength society’s trust in technology.

– Sofia LundbergSenior ConsultantTechnology ConsultingErnst & Young AB
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The importance of culture and mindset in driving trust and resilience

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As we work towards greater resilience in our technology systems, it’s vital that we instil a culture where colleagues and partners are confident to speak up, challenge and act. 

– Ruth AndersonChief Operating OfficerGroup COOLloyds Banking Group

The role of technology in banking is changing

Technology and banking are becoming synonymous as our customers increasingly expect an easy, digital-first experience. It’s no longer the exclusive domain of FinTechs to drive value through digitisation – more traditional banks like us continue to evolve and innovate at pace. As we transform technology estates towards cloud-based, API-enabled systems, this will pave the way for more personalised, frictionless customer experiences, making banking more accessible and convenient for our customers.

Mindset and culture are central to driving resilience

Adopting a growth mindset is key. It enables adaptability, innovation, and agility, particularly when it comes to overcoming hurdles and persisting when things get difficult!  

These are key enablers to preventing, recovering and learning from operational disruptions. As we work towards greater resilience in our technology systems, it’s vital that we instil a culture where colleagues and partners are confident to speak up, challenge and act. 

By creating that trusted environment of continual learning, where we embrace fast failures, we can remain resilient whilst still transforming at pace. Sustainability is important too. Driving a culture where we always consider the environmental impact of our technology is hugely important, so that everyone innately considers the Environmental, Social and Governance (ESG) risks whilst building out our resilience plans. 

Future-proof skills are required to remain resilient

Adapting to change and viewing change as an opportunity for continuous development is really important. If we can’t ‘move with the times’ from a mindset perspective, there’s no chance we can ensure our technology remains resilient. We’re actively supporting our colleagues to upskill on emerging technologies such as AI, cloud-based services and machine learning − which are quickly becoming a core part of our transformation journey. It’s important we also look beyond the technology and focus on interaction skills such as great communication and collaboration; it’s that cohesion that enables us to collectively deliver more efficiently and effectively. Diversity of thought is also key to encourage new ways of thinking to drive creativity, innovation and better customer outcomes. 

Still from a video interview with Maria Miranda.

Building mutual trust for a resilient partnership

Maria Miranda, Technology Consultant at Ernst & Young SA, is part of the team that leads EY’s alliance relationship with Appian, a recognised leader in low-code process automation. In the short video above, Maria tells us how she builds trust and resilience with Appian to provide the best technology solutions for clients. 

The collaborative synergy between EY and Appian has evolved into a strategic alliance defined by unwavering trust. Teamwork, collaboration and of course, fun, are key pillars for our resilient relationship.

– Roberto SerranoSenior Solution ConsultantAppian Corporation
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Cyber resilience for financial services ____________________________________

Inês Garcia, Risk Consulting Manager, Ernst & Young SA works with EY Assurance teams to collaborate on external auditing projects for financial services organizations, with a focus on reviewing IT governance, management processes and risk assessments. By providing strategic advice, technological solutions, and proactive monitoring, EY teams help clients to rapidly identify and respond to threats, effectively recover from incidents, and continuously improve their cyber resilience.

Learn from Inês about how EY teams support clients with evolving regulatory demands and emerging technologies as well as how her role as a manager helps her to support her colleagues in their career development.

Still from a video interview with Inês Garcia.

Ethics and Responsibility

Image of Sofia Ihsan.

Sofia’s tips for incorporating responsible and ethical AI principles in business: 

Clarify the definition of AI with examples so that everyone can understand where they need to apply Responsible AI governance.

Understand where you are using, building and buying AI because you can’t govern what you don’t know about. An Inventory of in-house developed and purchased AI systems is a key enabler.

Develop a risk assessment framework to understand the relative risk of different AI systems to right-size Responsible AI governance paying special attention to high risk AI.

Set clear roles and responsibilities and develop training and awareness assets to ensure that governance is understood, embedded and can be measured.  

In the below video, Catriona Campbell MBE, EY UK&I Client Technology and Innovation Officer, shares a real world example to demonstrate how businesses can benefit from adopting ethical AI principles.

This is a short clip from Catriona’s keynote speech at the 2023 Women of Silicon Roundabout event in London on the important topic of AI Governance, which you can find more about here.

Image of Catriona Campbell. Image of Vanessa Vallely.

The percentage of women in the tech industry has only moved by 5%1 over the last 10 years.  If we continue on that trajectory, we will not achieve gender parity in the tech industry for women until 2080!

– Vanessa Vallely OBEFounder and CEOWeAreTechWomen

Maximising female potential in technology through mentorship and allyship

Following a 25-year career in financial services, Vanessa Vallely founded WeAreTechWomen which aims to address imbalance in the tech industry and provides opportunities for women in technology to grow their skills and build their networks. This includes running industry events for their community which cover key topics impacting women in technology, like the Level Up Summit in London. The summit doesn’t just share thought leadership, it fosters communities and provides opportunities to those is higher positions to learn how to be better allies.

The event, sponsored by EY, brought together female tech innovators and male allies to discuss the barriers faced by women in technology and the importance of creating cultures of growth and space for progression. Saby Roy, EY EMEIA Financial Services AI and Cloud Leader, helped delivered a workshop on the future of AI and the importance of investing in AI knowledge. 

Women in Tech Summit  stage with podium and chairs.

EY was a proud top-tier sponsor of the Level Up Summit which provided a platform for discussion on areas including advancing inclusion in the tech industry.

Every single piece of technology is a manifestation of a belief system and AI reflects our thoughts and values as a human population. As AI systems generate information based on the data inputted into them, AI reflects our thoughts and values as a human population. It is critical to invest in your intentional AI knowledge as, without the ability to effectively leverage AI, you're solely reliant on a machine with no human judgement.

Image of Saby Roy.

Leveraging technology to drive social impact___________________________________________

Volunteers (aka GivEYrs in Spain) dedicate their time, skills, and expertise towards helping various social causes with a focus on education and skill development for underprivileged groups.

EY teams combine organizational capabilities by taking action around driving social impact through this corporate social responsibility and charity initiative in EY Spain within our global corporate responsibility program, EY Ripples.

Carlota Jiménez de Andrade Fornies, Director of Social Impact at EY Spain and more than 400 other GivEYrs have dedicated time and 330 donors have participated in nearly 70 projects and initiatives. Learn about how GivEYrs use advancements in technology to influence social change by watching Carlota’s video below.

Still from interview with Carlota Jiménez de Andrade Fornies. Diverse group of people sitting around a desk looking at  documents.

Being involved in the training and being able to share my experience to help others is really rewarding! I like to think the work we do at GivEYrs adds real value to society. 

– GivEYrs Volunteer
Road with cars leading through green forest.

Realizing technology’s potential in protecting biodiversity 

EY ifb offers an array of full-service solutions to support banks and insurance organizations in their finance, risk and digital transformation. 

Mi-Yun Kuo and EY ifb teams use innovative technologies such as AI and machine learning to analyze and monitor biodiversity data, tracking the health and stability of ecosystems around the world. Read more about Mi-Yun’s experience below…

Explore more about careers with EY ifb

Organizations depend on and impact biodiversity through their operational activities, supply chains, financing and investment decisions. EY is collaborating with clients and alliance relationships to utilize AI and data analytics to build models predicting human impact on biodiversity, analyze ecological data trends, and measure long-term business sustainability. Find out more here.

I am originally from Taiwan where I studied anthropology and economics. I moved to Germany for its rich humanities and thriving business environment. I took up a career in ESG, and currently focus on biodiversity, because it promotes the balance of environment, people, and long-term business profits at an interconnected global level.Technology assists biodiversity in many respects.

For example, programming with Python builds up biodiversity studies and footprints which use data from diverse sources. GitHub helps in collaboration with my colleagues. As AI lights up, it supports in structuralizing the research process for the fast evolving and dispersed information.

The development of biodiversity assessment has just started its journey, along with academic research and enhanced regulation.

At present, the greatest hurdle is to harmonize various sources into one system and implement it for client’s business frameworks. In that respect, I am keen to learn, try, and apply new technologies to make the implementation more robust, user-friendly, and efficient.

Image of Mi-Yun Kuo.

People and Accessibility

Image of Penny Roberts.

The female perspective is a catalyst for innovation in technology’s male-dominated landscape. We’re capable of cultivating curiosity and thinking differently to reach the desired goal. 

– Penny RobertsDirector of Partnerships & Co-FounderBankAbility

Building trust through digital accessibility_________________________________________  

Digital accessibility is about removing barriers to make digital content accessible for everyone, especially those with disabilities. This is particularly relevant within the banking industry which has changed drastically in recent years. During this time, 50% of branches have closed across Europe as banks look to increase profit by pushing customers to digital banking1 − making it an essential part of everyday life. However, many vulnerable users find banking apps inaccessible − with 43% of UK adults with access needs not using banking apps to manage their finances2. This can lead to frustration, mental health issues, reduced independence and financial exclusion. 

Having done extensive research into the millions of people impacted by digital banking inaccessibility, and being inspired by my son who is dyslexic and autistic, I made it my mission to do something about it! That’s where the idea of BankAbility was born − to create a ‘accessibility first’ Open Banking solution that automatically optimises the user-experience for everyone regardless of disability, age, device or operating system. The BankAbility app is yet to launch, but we’re confident that it will be a gamechanger for people with sensory, neurological, and physical disabilities. It also comes at a critical time as the European Accessibility Act (EAA) is introduced in June 2025 − forcing EU banking services to change.

Key to the success of our app will be building trust with users. This is something we plan to do through regular reassurance about security, user-friendly design, and reliable Customer Support teams who are trained to understand digital accessibility needs. We’ll also provide educational tools to help people manage their finances more efficiently, and a community forum to encourage feedback and engagement.

1 Almost half of the UK’s bank branches are gone – it’s now or never to halt the cash crisis2 Click-Away Pound Survey  

Using GenAI to enhance accessibility and fight financial crime___________________________________________________________ 

The availability of GenAI provides opportunities to unlock inclusive experiences through creating content that’s tailored to accessibility needs and evaluating software for compliance with accessibility standards. For example, developers can harness GenAI  to produce speech-to-text, text-to-speech, and/or image-to-text explanations for those with hearing or sight impairments. It can also use algorithms to identify accessibility issues like text legibility, navigation, and colour contrast.

This is something we’re passionate about at Feedzai and keep front of mind when designing datasets to help firms fight financial crime. Data scientists use our platform to build machine learning to stop fraudsters, and our investigators use fraudster trends to create rules to stop future attacks. Data visualisation is crucial to this process to help spot patterns and obscure data, but has historically

been challenging to make accessible. This is particularly the case for those relying on screen readers because the page’s HTML is not structured in a way that allows the screen reader technology to read the visual information from graphs.

To address this, we developed a tool called AutoVizuA11y that automates the addition of accessibility features in charts, which allows users to navigate seamlessly and quickly with rapid access to statistical insights and navigation options. The tool also provides better descriptions of data by supporting automatic descriptions that are generated via OpenAI’s API. Screen reader users will also be informed if the description they are hearing is automatically generated. 

Learn more about Feedzai here 

We are investing in accessibility with GenAI and sharing our tools in open-source so that others can build upon them.

– Pedro BizarroCo-Founder and Chief Science Officer,Feedzai
Image of Pedro Bizarro
Daniele Scarpari taking a selfie with  people sitting around a meeting table  in an office.Group of people standing in front  of skyline.

Enabling equitable career progression 

Investing in female talent is critical as the gender gap increases in the workplace from entry level to leadership1 − especially following a year where the gap widened across European Financial Services Boardrooms2.

Having recognised barriers to career progression facing women in the workplace, particularly at the mid-management career level, the EY Italy Insurance Tech Hub decided to make a change by developing the Road to Senior Manager+ (RTSM+) program.

The RTSM+ program aims to develop female talent through providing opportunities for coaching, role modelling, mentorship and community events that strengthen the team’s sense of belonging as part of a supportive network.

Not only does the program focus on individual development, but on crafting job roles that are inclusive and accessible to women across their career, including, but not limited to, parenthood.

In five years since launching the program, the team has quadrupled their amount of female senior managers and increased gender representation at the Director level by 33% − demonstrating the progress made by the program.

Having a credible ally to trust in the RTSM+ program made it possible, and being a part of this network has helped me to achieve my goals personally and professionally.

– Chiara SalvaiDirector,Technology ConsultingEY Advisory S.p.A
Image of Chiara Salvai.Image of Daniele Scarpari.Diverse colleagues working together in an EY office.

Supporting female career accessibility and progression

Linn Loly, Director, Technology Consulting and member of the Nordics Career Watch program as a “watchee” since 2020 tells us about her experience of the program …

Career Watch is a sponsorship program to support female career progression through mentorship and workshops. The program has helped me grow my professional network, and enabled new learning opportunities related to technology, but also financial services as a whole. On a personal level, my sponsor has been very helpful in advising me on how to navigate both my career and personal wellness when embarking on a new part of life - starting a family.

I find that one of the most important initiatives in the program is the opportunity to have an experienced sponsor to help you navigate through the ups and downs of your career. Whether informal or formal, I always encourage the people I work with to establish similar relationships, and really take use of other’s experiences, while also having a “safe” spot to vent if necessary.

Linn LolyDirector, Technology ConsultingErnst & Young SA

Image of Linn Loly.

Using Storytelling to Build Psychological Safety  

Margit Vunder, DE&I Project Lead at Ernst & Young AG in Switzerland explains the power of storytelling in shifting bias, driving awareness of other’s experiences and supporting a more diverse, equitable and inclusive workplace.

Storytelling is one of the most powerful forms of communication; it grabs our attention, raises empathy and opens new perspectives. Hearing true stories from real colleagues raises awareness, allows leaders to explore experiences through a different lens, and makes building psychological safety part of the leadership culture.

Our experience is that storytelling achieves this by:

Image of Margo Vunder.

Collaborating in tech to design digital learning to mitigate risk __________________________________________________________

The pace at which regulations change and risks evolve is rapid in this new digital era. As such, it’s critical that financial services firms respond by providing their workforce with dynamic digital learning to upskill them for the future, and protect the organization against emerging risks.

However, risk and regulatory learning can be stigmatized for being too transactional.

In order to change this perception, we need to create learning that uses the latest technology to increase engagement and drive real behavioral change.

At EY, we have a global network of risk, regulatory and learning professionals that have years of experience delivering transformational change and programs at scale. 

When you combine this with Media Zoo’s creativity and innovative technology for digital learning, it results in the creation of top-quality content and memorable learning experiences that drive real business impact.

Elizabeth McLeodSenior Manager, People ConsultingErnst & Young LLP 

Image of Elizabeth McLeod.Image of Cheryl Mok.

The impact of partnering in tech to upskill

The Microsoft Power Platform is a collaboration between EY and Microsoft, comprising of several tools including Microsoft Power Apps. These solutions help organizations automate processes, develop applications quickly and analyze data visually to enhance consumer interactions. Listen to the video on the right to hear how Technology Consultant Giorgia Arrigoni benefitted from using the platform and how the training helped her use technology safely and responsibly.

Image of Giorgia Arrigoni.

Why upskilling in tech is crucial for audit professionals

As someone who works in Audit, I think that upskilling in tech is crucial nowadays due to the rapidly evolving digital landscape. Tech competency plays a pivotal role when assessing the reliability of data or identifying potential risks and vulnerabilities.

This is especially true when auditing financial technologies companies. 

Without technological proficiency, auditors risk falling behind and potentially impacting the quality of their work.

Participating in the Power Platform training allowed me to discover a new set of tools from Microsoft (Power BI, Power Apps, Power Automate and Power Virtual Agents) that I would not have learnt in my day-to-day tasks.

On the professional side, it helped me understand how clients could use those tools 

to drive business intelligence and automate processes, and how auditors could leverage from this. On the other hand, this training helped me gain skills that could expand my career opportunities. 

Power Platform applications are proficient tools to manage, compile and share data. While those tools provide valuable insights, the data might be considered as confidential and sensitive. 

The training emphasizes the importance of managing and protecting data and teaches ways to maintain confidentiality, for instance, with Power BI's features allowing users to share reports only with authorized people.

Tina Du Staff/AssistantAuditErnst & Young S.A

Image of Tina Du.

Trust and Transparency

Advancing trust in technology to protect vital revenues _____________________________________________________ 

EY and CIONET collaborated to deliver a forum for female CIOs focused on advancing trust in technology to protect vital revenues. During the CIO Circle event they discussed how the turbulence of the modern world, coupled with the move to digital has put greater emphasis on customer trust − be this an employee, business partner, or consumer. CIONET Advisory Board Chair, Maureen Wedderburn believes that trust in tech is vital to business success and is contingent on three key factors: 

Image of Maureen Wedderburn.Group of women socializing.

What to do next …_____________________

EY sponsors of the CIO Circle roundtable event, Lopa Ghosh and Lucy Rosemont, share their summary of valuable takeaways from the discussion:

Trust in technology should be seen as the responsibility of the whole organization. It should be embedded in all operating processes.

People who maintain trust in technology should be at the ‘C’ suite table.

Transparency by design is critical in all aspects of IT applications and systems, especially infrastructure.

Leaders must encourage people across the organization to be vocal about this topic and not be afraid of asking ‘silly’ questions.

Helping clients adopt Generative AI with trust____________________________________________

 

EY´s LightUp OpenAI is a framework to help accelerate generative artificial intelligence adoption and transform businesses at speed and scale. Its pillars are threefold: AI and Governance, Platform and Technology, and EY Business and Applications, aiming at building responsible AI-driven solutions that are compliant with AI regulations and avoid biases.

This framework was presented at the Microsoft Envision Europe event, which equipped participants on how to lead in the era of AI; presented by Lillie Harris, leading Microsoft’s Azure strategy and Cloud Solution Priority and Diego Garcia Puado, partner at EY wavespace Data and AI Hub, AI and emerging tech leader.

Image of Diago Garcia Puado.Image of Lillie Harris.

Importance of building trust in tech roles….

Image of Nora Hamdani.

Nora Hamdani is an Executive Director with a background in Banking (Anti Money Laundering, Payment, and Digital) and the Insurance domain- (Life and Non-Life).

Nora has recently led the Life Transformation and Platform Delivery program for an Assurance client, aimed at migrating the life portfolio from an outdated application to a cloud-hosted software package in the client´s ecosystem.

This initiative meant that the team, alongside Nora, had to aid the client in adopting the technology with trust. Nora is proud to have built a strong project management team, with 60% of its members being women from EY. 

Anna Caroline Lange is a Senior Consultant in the EY Transaction Strategy and Execution Team in Germany. She joined EY-Parthenon in 2023 after working for several years in the blockchain technology industry.

She has finished an exciting project where EY supported a global payment service provider to build a joint venture with a German bank to offer digital payment solutions to business customers.

Blockchain supports trust in financial services, especially in payments as it helps enable tamper-proof, validated, timestamped cross-border transactions at a lower cost and faster rate. Unlike traditional financial systems, blockchain uses smart contracts which allows two parties to create a binding contract without a third party.

Image of Anna Caroline Lange.Image of Anna Gozdalik-Coakley.

Anna Gozdalik-Coakley is the leader of EY Ireland AI and Data Competency within Financial Services Consulting, where she leads clients in formulating their AI vision and converting it into actionable plans. By understanding their business, challenges and concerns, Anna helps them create their approach to responsibe Ai. 

One of the incredible benefits of her role are the learning opportunities it offers, both in terms of structured learning but also participating in initiatives like testing of Microsoft Copilot or participating in the World Summit AI, government bodies, academics, and early adopters. Anna recommends that as with any emerging technology, the rapid deployment of Generative AI necessitates urgent adoption of responsible AI and data frameworks.

 

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Thank you for reading! Whether you are interested in a career in technology or feel empowered by the stories shared in this magazine, we’d like to thank you for reading and hope you found it insightful.

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With 75% of European financial services firms aiming to increase investment in GenAI1 – trusting in these advancing technologies will be critical to ensure effective and equitable utilisation. I hope this was brought to life through the inspiring stories shared by our women in tech, and male allies, in this magazine.

– Hanne KaerhoegEY EMEIA Financial Services Markets Leader
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Women in Technology