AI- A Game Change for Risk Management – BankTech Asia 2018, Kula Lumpur – 2018

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Conference Info :

BankTech Asia returns to Kuala Lumpur for the 10th year, with an 330 bankers, 85 exhibitors and sponsors, 37 speakers, 30 start-ups and 5 regulators conducted a 2-days conference featuring than 35 experts with a focus on Retail Banking, Payments & Transaction and Technology Risk Management.

Topic Summary:

AI Is Remaking Risk Management, Artificial Intelligence is a game changer for risk management in finance as it provides banks and credit unions with tools and AI solutions to identify potential risks and fraud. Artificial intelligence and risk management perfectly align when there is a need in handling and evaluating unstructured data. It is estimated that risk managers of financial institutions will focus on analytics and stopping losses in a proactive manner based on AI findings, rather than spending time in managing the risks inherent in the operational processes.

Risk assessment AI can provide a fast and accurate risk assessment, using every data – both financial and non-financial – it can find to factor in the character and capacity of a customer. AI-powered risk management solutions can be also used for model risk management (back-testing and model validation) and stress testing, which is required by European and US prudential regulators.

Effective risk management, far from being an inhibitor of innovation, is in fact pivotal to a firm’s successful adoption of AI. Risk Management Framework Lifecycle Details and language will vary from firm to firm, but conceptually an RMF lifecycle comprises four key stages: 1. Identify 2. Assess 3. Control 4.Monitor and Report.

List of All Speakers :

Key Takeaways

  • What and how latest technology innovations are impacting risk management?
  • In banks, what do risk management leaders look for when entering into a partnership with solution providers?
  • Emerging technologies and their risks.

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