REVOLUTIONIZING RISK MANAGEMENT: INNOVATIVE APPROACHES IN COMMERCIAL BANKING
Abstract
This article explores innovative approaches to risk management in commercial banks, focusing on the integration of advanced technologies, such as Artificial Intelligence (AI), Blockchain, and Machine Learning (ML), as well as new methodologies like stress testing and RegTech. It discusses the benefits of these innovations in enhancing risk prediction, compliance, fraud detection, and overall financial security. Additionally, it highlights the importance of data-driven decision.
Keywords
risk management, artificial intelligence (AI), machine learning (ML), blockchain, stress testing, regulatory technology (regtech), fraud detection, credit risk, data analytics, compliance.
References
- McKinsey & Company (2020): AI in fraud detection and its impact on reducing false positives.
- PwC’s 2020 Global Blockchain Survey: The adoption of blockchain in financial services.
- European Central Bank (2023): Stress testing models in European banks.
- Deloitte (2021): The impact of RegTech on reducing compliance costs.
- Gartner (2022): The role of data analytics in risk management decision-making.
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