Technology and Analytics in the Wonderland of Risks Monitoring A Regulatory Standpoint

Abstract

Technology has enabled a paradigm shift in the way banks and other financial institution work. Be it customer relationship or risk management, automation has completely changed the perspective and the scale of aggregation. But digitization should be taken with a pinch of salt as it has its own challenges like risk arising from third party vendors, model error & skillset required for Big data analytics, data privacy etc. Regulators have already started to analyze some of these issues.

Keywords: Machine learning, RegTech, Big data analytics