6 in 10 firms rank financial risk as a top concern

Almost half of firms expect financial risk to affect their operations in the next 12 months.

Half of firms in Singapore believe they are facing more risks now than in the past, with financial risk topping their concerns.

Data from FIS showed that 67% of local firms are concerned about financial risk, followed by strategic risk (52%), and operational risk (48%).

Firms in financial services (67%) are more concerned about financial risk than those in non-financial services (60%)

Many of the businesses experiencing financial risk say they are adopting new technology (49%), restructuring their business model (51%) or acquiring/partnering with other businesses (51%) in the face of such risk.