Implementing AI powered solutions for Regulatory Compliance in Digital Banking to Foster Financial Inclusion

Sam Orji *

Corporate Finance Law, University of Westminster, London, UK.
 
Review
International Journal of Science and Research Archive, 2024, 13(02), 3115-3119.
Article DOI: 10.30574/ijsra.2024.13.2.2493
Publication history: 
Received on 06 November 2024; revised on 18 December 2024; accepted on 20 December 2024
 
Abstract: 
The intersection of artificial intelligence (AI) and regulatory compliance in digital banking has ushered in transformative opportunities for financial inclusion. This paper examines how AI can streamline compliance processes, mitigate risks, and expand access to financial services for underserved populations. By analyzing key AI technologies like Natural Language Processing (NLP) and Machine Learning (ML), this work discusses their applications in regulatory frameworks and highlights their potential to foster inclusivity in the financial ecosystem. Additionally, ethical considerations, challenges, and best practices are explored to provide a holistic understanding of AI-driven compliance innovation.
 
Keywords: 
AI; Technology; Digital banking; Regulatory; Financial Institutions
 
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Copyright information: 

Copyright © 2024 Author(s) retain the copyright of this article. This article is published under the terms of the Creative Commons Attribution Liscense 4.0