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Ranking of current information technologies by risk and regulatory compliance officers at financial institutions – a German perspective

Michael Becker and Rüdiger Buchkremer

The Review of Finance and Banking, 2018, vol. 10, issue 1, 007-026

Abstract: This paper provides new insights on the relevance of new information technologies for the risk and regulatory compliance management of financial institutions in Germany. For this purpose, 62 executive risk managers and compliance officers have been surveyed with respect to risk categories, regulatory requirements as well as new technologies with an emphasis on artificial intelligence. The results of this survey are compared to the scientific literature and to four existing studies of 2016 and 2017, respectively. This research shows that artificial intelligence, big data and cybersecurity technologies are on top of the agenda of financial institutions in Germany. Moreover, the majority of participants are convinced that artificial intelligence solutions will widely be implemented and used in the risk and regulatory compliance environment by the end of 2022.

Date: 2018
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Handle: RePEc:rfb:journl:v:10:y:2018:i:1:p:007-026