Building cyber resilience in fintech through AI and GRC integration: An exploratory Study
1 Independent Researcher; Toronto, Canada.
2 Information Security Advisor, Corporate Security, City of Calgary, Canada.
3 CPA, KPMG, USA.
Review Article
GSC Advanced Research and Reviews, 2024, 20(01), 228–237.
Article DOI: 10.30574/gscarr.2024.20.1.0245
Publication history:
Received on 23 May 2024; revised on 06 July 2024; accepted on 08 July 2024
Abstract:
The fintech industry, at the forefront of digital innovation, faces an evolving landscape of cyber threats that necessitates robust cyber resilience strategies. This study explores integrating Artificial Intelligence (AI) and Governance, Risk, and Compliance (GRC) frameworks to enhance cybersecurity in fintech. It examines the current cyber threat landscape, highlighting common and emerging threats, and emphasizes the role of AI in predicting and mitigating these risks. The study underscores the importance of GRC frameworks in establishing effective governance, managing risks, and ensuring compliance with regulatory requirements. By integrating AI-driven tools and GRC frameworks, fintech companies can proactively address cyber threats, ensuring the continuity and integrity of their operations. Strategic recommendations include investing in AI technologies, fostering a culture of cybersecurity awareness, and adopting comprehensive GRC practices. The study also identifies potential areas for further research, such as advanced AI algorithms and the ethical implications of AI in cybersecurity. These insights guide fintech companies in building robust cyber resilience, safeguarding customer trust, and maintaining regulatory compliance in an increasingly digital financial ecosystem.
Keywords:
Cyber Resilience; Fintech; Artificial Intelligence (AI); Governance; Risk; Compliance (GRC); Cybersecurity
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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
