Designing AI driven compliance frameworks to expand digital banking access in underserved US Communities
Year: 2024
Type: article
Abstract: Expanding digital banking access in underserved communities is vital to financial inclusion in the United States. However, regulatory compliance challenges and a lack of tailored banking solutions hinder progress. This paper explores the integration of Artificial Intelligence (AI) to create dynamic compliance frameworks that facilitate broader access to digital banking. AI can not only streamline regulatory adherence but also personalize banking services, fostering trust and reducing barriers for underserved populations. By combining AI capabilities with robust compliance measures, financial institutions can ensure equitable banking access while maintaining regulatory integrity.
Author: Sam Orji
Institution: University of Westminster
Language: English
Domain: Social Sciences
Open Access status: hybrid
OpenAlex ID: W4405765652