Digitalization as a factor in transforming banking risks
Abstract
In the era of development of banking innovations through the use of digital sales channels, mobile applications and other digital technologies, competing banks seek to expand the range of services and products. In recent decades, the digital transformation of banking has been the main instrument of competition in the banking services market. Optimization of costs and minimization of the cost of creating such services using digital technologies creates new banking risks – information ones. Unauthorized access to information, failure of information systems, cyber attacks can generate significant losses and damage to both banks and their clients. As a result, it is necessary to create an information risk management toolkit. This article considers the main vector of the formation of the regulatory framework for information risk management, approaches to understanding the economic content of information risks of a commercial bank. The article defends the thesis that the introduction of artificial intelligence and machine learning is a separate key area of digitalization of banking and forms the specificity of information risks of banking in the modern economy. The main directions of implementation of these technologies in modern banking are revealed, business, transformation of banking risk management taking into account information risks.
About the Author
O. G. Semenyuta
Rostov State University of Economics (RINH)
Russian Federation
Russian Federation
Doctor in Economics, Professor
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Review
For citations:
Semenyuta O.G. Digitalization as a factor in transforming banking risks. Kazan economic vestnik. 2024;(6):10-15. (In Russ.)
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