Downloads: 4 | Views: 121 | Weekly Hits: ⮙1 | Monthly Hits: ⮙1
Research Paper | Information Technology | United States of America | Volume 12 Issue 11, November 2023 | Rating: 5.4 / 10
Revolutionizing FinTech - Advanced Risk Assessment and Compliance Strategies
Chintamani Bagwe
Abstract: The Financial Technology sector is experiencing a surge in growth, and with it, new methodologies for risk assessment in the face of unique regulatory challenges are emerging. This article aims to introduces the concept of advanced risk assessment and demonstrate its pivotal role in revolutionizing compliance in the FinTech industry. Thanks to integrating state-of-the-art technologies, such as machine learning and artificial intelligence, cutting-edge risk assessment enables us to guide our FinTech companies through the tangle of regulatory red tape. Notably, the findings highlight the importance of building a risk-aware environment, devoting resources to strong control systems, and the necessity of using risk intelligence platforms helps uncover potential hazards. As a result, the benefits of advanced risk assessment systems such as compliance are far-reaching. Firstly, they make the compliance process easier, second - improve operational efficiency and recovery capacity. Finally, this article highlights the importance of a balanced "fostering a culture of compliance" that appropriate regulatory control measures that ultimately underlie RegTech solutions. Taken together, the implications demonstrate that compliance is not just a regulatory necessity - it?s also a strategic toolkit for long-term prosperity.
Keywords: FinTech, RegTech, Machine Learning, Risk Management
Edition: Volume 12 Issue 11, November 2023,
Pages: 2164 - 2169