[OR] What are the Impact Types?

Impact Types

A critical aspect of operational resilience is impact tolerance, which refers to an organization's ability to withstand the impact of a disruption to its critical business services.

Impact types refer to the adverse effects or consequences of disruptions in an organization's operations.

These impact types can vary depending on the nature and severity of the disruption and the organization's specific operations and dependencies.

In the context of operational resilience, the following are some common impact types that can result in disruption:

Impact	Description of Disruption
	Refers to the negative impact on an organization's ....
Operational	ability to carry out its operations, such as delays, interruptions, or reduced efficiency.
Financial	finances, such as loss of revenue, increased costs, or damage to assets.
Operational	ability to carry out its operations, such as delays, interruptions, or reduced efficiency.
Reputational	reputation, such as loss of customer trust, damage to brand image, or negative media coverage.
Legal and regulatory	compliance with legal and regulatory requirements, such as fines, legal action, or loss of licenses or permits.
Safety and environmental	safety and environmental standards, such as accidents, injuries, or environmental damage.
Customer	customers, such as loss of customer data, decreased customer satisfaction, or negative customer experiences.
Employee	employees, such as increased stress, reduced job satisfaction, or loss of employment.

Examples of Impact Types

Critical Business Service	Impact Type
Online Banking	Customer dissatisfaction, reputational damage, financial losses
ATM Network	Customer inconvenience, operational delays, reputational harm
Payment Processing	Financial delays, regulatory penalties, loss of market confidence
Cash Management Services	Corporate client dissatisfaction, liquidity issues, financial losses
Trade Finance	Disrupted international trade, delayed transactions, reputational harm
Loan Syndication	Collaboration delays, financial loss, reputational damage
Mobile Banking	Reduced accessibility, customer dissatisfaction, reputational harm
API Banking	Service disruptions for partners, operational delays, reputational risks
Digital Wallet	Payment delays, financial losses, reputational harm
Liquidity Management	Financial instability, operational delays, compliance risks
Forex Transactions	Delayed settlements, financial losses, reputational damage
Fixed Income Trading	Market impact, financial loss, operational inefficiencies

In Conclusion ...

Organizations need to identify the potential impact types that could result from disruptions in their operations and prioritize actions to mitigate the risks associated with each type of impact.

By addressing these impact types, organisations can strengthen their operational resilience and better prepare for potential disruptions.

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