Global Workforce Insights: Addressing Skills Gaps and Strengthening Talent Strategies in Risk and Fraud Prevention
The Growing Need for Workforce Transformation
A new survey reveals a critical need for workforce upskilling and talent strategy transformation, as nearly half of financial services executives report challenges in managing credit risk and preventing fraud. The findings highlight the growing demand for specialized skills, technology adoption, and cross-functional collaboration to drive success in an evolving financial landscape.
Survey Overview
The survey, conducted by Provenir — a global leader in AI Decisioning solutions — gathered insights from nearly 200 decision-makers across financial services providers worldwide. It underscores the essential role of talent strategies in empowering teams to address risk decisioning and fraud prevention challenges effectively.
Key Insights: Technology Adoption and Skills Gaps
Key findings show that over half of financial leaders plan to invest in AI and risk decisioning solutions in 2025 and beyond. However, nearly 60% of respondents reported difficulties deploying and maintaining these advanced models. This highlights the urgent need for talent development and workforce enablement strategies to equip employees with the skills required to implement and manage cutting-edge technologies.
The data also reveals that 55% of executives recognize the value of AI in streamlining strategic decisions and improving performance, while 53% acknowledge its ability to fine-tune models for better, more accurate outcomes. As financial services organizations prioritize real-time, event-driven decision-making (65%) and enhancing customer experiences (44%), HR leaders play a vital role in aligning workforce capabilities with these strategic objectives.
Addressing Data Integration and Cross-Functional Collaboration
A key workforce challenge identified is data integration proficiency, with over half of respondents citing difficulties in seamlessly integrating data sources. This points to the importance of recruiting and developing data-savvy talent, capable of navigating complex systems and enabling unified, insight-driven decision-making. Additionally, 37% of respondents reported struggling with effective data orchestration for fraud prevention, emphasizing the need for cross-functional training to bridge knowledge gaps between fraud and credit risk teams.
Notably, nearly one-third of executives agreed that breaking down data silos between fraud prevention and credit risk teams is crucial for comprehensive, end-to-end strategies. This highlights an opportunity for HR leaders to foster collaboration, promote agile team structures, and cultivate a culture of continuous learning.
HR’s Role in Building Agile, High-Performing Teams
“Financial institutions are navigating an increasingly complex risk landscape, making talent development, cross-functional alignment, and workforce agility more critical than ever,” said Carol Hamilton, Chief Product Officer at Provenir. “Empowering teams with the right skills and technology proficiency will ensure holistic decision-making, foster innovation, and enhance customer experiences across the entire lifecycle.”
Survey Methodology
The survey was conducted between November and December 2024, capturing responses from managers, directors, vice presidents, and C-suite leaders across North America, EMEA, Latin America, and Asia Pacific.
About Provenir
Provenir helps banks, fintechs, and financial services providers unlock smarter risk decisioning with its AI Decisioning Platform. By combining decisioning, data, and decision intelligence, Provenir supports organizations in driving innovation, enhancing fraud prevention, and empowering agile workforce strategies for lasting success.
