Work

Implementing AI powered solutions for Regulatory Compliance in Digital Banking to Foster Financial Inclusion

Year: 2024

Type: article

Abstract: The intersection of artificial intelligence (AI) and regulatory compliance in digital banking has ushered in transformative opportunities for financial inclusion. This paper examines how AI can streamline compliance processes, mitigate risks, and expand access to financial services for underserved populations. By analyzing key AI technologies like Natural Language Processing (NLP) and Machine Learning (ML), this work discusses their applications in regulatory frameworks and highlights their potential to foster inclusivity in the financial ecosystem. Additionally, ethical considerations, challenges, and best practices are explored to provide a holistic understanding of AI-driven compliance innovation.

Source: International Journal of Science and Research Archive

DOI: 10.30574/ijsra.2024.13.2.2493

Author: Sam Orji

Institution: University of Westminster

Language: English

Topic: FinTech, Crowdfunding, Digital Finance

Subfield: Management Information Systems

Field: Business, Management and Accounting

Domain: Social Sciences

SDG: Industry, innovation and infrastructure

Open Access status: hybrid

OpenAlex ID: W4405765712