Boosting Digital Banking Sector through Machine Learning: Identifying Security Risks and Legal Sphere for Security Solutions Models and Support System
Keywords:
Cyber security, digital banking, erisks, machine learning, legal sphereAbstract
The digital transformation of the banking sector has ushered in unprecedented convenience and efficiency for customers worldwide. It has also introduced new challenges, particularly in terms of security risks and legal complexities. In recent years, the digital banking sector has witnessed a surge in cyber threats and data breaches, posing significant threats to both financial institutions and their
customers. Machine learning, with its ability to analyze vast amounts of data and detect anomalies, has emerged as a powerful tool to mitigate these risks. This research explores how machine learning algorithms can be deployed to identify potential security threats in real-time, providing banks with proactive measures to safeguard their digital assets and customer information. The regulatory
landscape is complex and constantly evolving, making it challenging for financial institutions to stay compliant. By integrating machine learning models, this research aims to streamline compliance efforts by automating the monitoring of legal changes and ensuring that security protocols align with the latest regulations. This proactive approach can help banks avoid costly legal penalties and reputational damage. The research also focuses on the development of a support system that combines machine learning-powered security solutions with legal expertise. This support system serves as a holistic approach to enhance digital banking security. It provides real-time threat detection and legal guidance, allowing financial institutions to respond swiftly to emerging security challenges while remaining in compliance with relevant laws and regulations. This abstract provides an overview of a comprehensive
study aimed at enhancing the digital banking sector through the application of machine learning techniques to identify security risks and navigate the legal landscape for security solutions models and support systems.
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