International Journal For Multidisciplinary Research

E-ISSN: 2582-2160   •   Impact Factor: 9.24

A Widely Indexed Open Access Peer Reviewed Multidisciplinary Bi-monthly Scholarly International Journal

Call for Paper Volume 7, Issue 3 (May-June 2025) Submit your research before last 3 days of June to publish your research paper in the issue of May-June.
Submit Research Paper Join as a Reviewer

Plagiarism is checked by the leading plagiarism checker TurnItIn

Call for Paper

Volume 7 Issue 3
May-June 2025

Submit your research paper

Indexing Partners
Academia Advanced Sciences Index Bielefeld Academic Search Engine CiteSeer DRJI Google Scholar Independent Search Engine & Directory Network ISI (International Scientific Indexing) Issuu Mendeley Research Networks
RefSeek ResearcherId - Thomson Reuters ResearchGate Scirus Scribd Semantic Scholar UTeM - Universiti Teknikal Malaysia Melaka Wiki for Call for Papers WorldCat Zenodo

Artificial Intelligence in Financial Services: Revolutionizing Risk Assessment and Fraud Detection in Modern Banking

Author(s) Prof. KAMAL KUMAR HINDOLIA
Country India
Abstract The financial services industry, particularly banking, stands at the forefront of the Artificial Intelligence (AI) revolution. Driven by the relentless growth of digital transactions, escalating cyber threats, and the need for operational efficiency, AI technologies – particularly Machine Learning (ML) and Deep Learning (DL) – are fundamentally transforming core banking functions. This research paper provides a comprehensive analysis of the application of AI in two critical domains: Risk Assessment (encompassing credit risk, market risk, operational risk, and liquidity risk) and Fraud Detection (including payment fraud, identity theft, and anti-money laundering - AML). It examines the underlying AI techniques (supervised, unsupervised, reinforcement learning; neural networks, NLP), their implementation benefits (enhanced accuracy, speed, scalability, cost reduction), and the tangible impact on bank performance and security. Crucially, the paper delves into the significant challenges and risks associated with AI adoption, including data privacy concerns (GDPR, CCPA), algorithmic bias and fairness, model explainability ("black box" problem), cybersecurity vulnerabilities of AI systems, and evolving regulatory landscapes. Through analysis of real-world case studies and current trends, the paper explores the future trajectory of AI in banking, considering advancements in generative AI, federated learning, and quantum computing. The conclusion emphasizes that while AI offers unprecedented opportunities for safer, more efficient, and customer-centric banking, responsible and ethical deployment, guided by robust governance frameworks, is paramount for sustainable success.
Published In Volume 7, Issue 3, May-June 2025
Published On 2025-06-10
DOI https://doi.org/10.36948/ijfmr.2025.v07i03.47655
Short DOI https://doi.org/g9pz5f
View / Download PDF File

Share this



E-ISSN 2582-2160
CrossRef

CrossRef DOI is assigned to each research paper published in our journal.

IJFMR DOI prefix is
10.36948/ijfmr

Downloads
Research Paper Format Copyright Permission Form and Undertaking Form Cover Page Vol 7 Isu 3Cover Page Vol 7 Isu 2Cover Page Vol 7 Isu 1

All research papers published on this website are licensed under Creative Commons Attribution-ShareAlike 4.0 International License, and all rights belong to their respective authors/researchers.

CC-BY-SA Open Access

About IJFMR
Fees & Payment
Current Issue
Publication Archive 		Submit Research Paper
Track Submission Status
Publication Guidelines
Publication Ethics
Peer Review & Plagiarism 		Join as a Reviewer
Editors & Reviewers
Reviewer Referral Program
Get Reviewer Membership Certi. 		Website/Journal Policies
Usage Policy
Content Policies
Privacy Policy
Contact Us +91-9687-828-838 editor@ijfmr.com