Published Paper Details:

In the ever-evolving digital landscape, organizations face unprecedented challenges in managing risks associated with their digital assets and sensitive data. The integration of emerging technologies has transformed the business landscape, leading to complex and evolving risks with severe consequences. This research paper focuses on the banking sector, exploring the latest technologies and associated risks, while also delving into effective digital risk management practices. The paper provides a comprehensive overview of the digital risk landscape, including strategies and best practices employed by organizations to manage digital risk effectively. Challenges faced by organizations in managing digital risks, such as evolving cyber threats and data protection compliance complexities, are discussed. To comprehensively understand digital risk management, a combination of qualitative and quantitative approaches is used, including a literature review of relevant studies and the impact of emerging technologies on risk management. The study emphasizes the importance of robust risk management practices and continuous adaptation to evolving threats and regulations in ensuring secure and successful digital initiatives in the banking industry. Overall, effective digital risk management is crucial in the rapidly evolving banking landscape. By implementing robust mitigation measures, banks can leverage emerging technologies to enhance services and customer experiences while safeguarding data and ensuring regulatory compliance. Proactively addressing digital risks will pave the way for a secure and prosperous future for the banking industry.