Innovative technologies in credit risk management: digitalization strategies for banking risk management

   Introduction. The modern banking sector is actively implementing digital technologies, which significantly transforms approaches to credit risk management. Credit risk as one of the key risks for financial institutions requires the use of innovative assessment and control methods. Digitalization provides new opportunities such as artificial intelligence, big data, and blockchain, but it is accompanied by challenges, including cyber threats and data protection issues.

   Goal. The research is aimed at analyzing modern digital solutions in credit risk management, evaluating their effectiveness and identifying key trends in this area. Special attention in shaping the regulatory framework for the introduction of innovative tools is paid to the role of regulators, such as the Bank of Russia.

   Materials and methods. The paper uses methods of systematic analysis of scientific literature, regulatory documents and reports of financial institutions. Comparative and statistical analysis has been applied to evaluate machine learning, big data processing, and blockchain technologies. The empirical base includes publications in peer-reviewed journals, regulatory data, and cases of implementing digital solutions in banking practice.

   The results and their discussion. The study revealed that digital technologies such as automated scoring, Big Data and real-time monitoring significantly improve the accuracy of risk assessment and the effectiveness of loan portfolio management. However, their implementation comes with risks, including algorithm inaccuracy and cyber threats. A special role is played by the integration of artificial intelligence and cloud technologies that optimize risk management processes. Regulatory initiatives such as the development of a unified data system are aimed at standardizing and increasing transparency of processes.

   Conclusion. The digital transformation of credit risk management requires an integrated approach that takes into account both the benefits of technology and the associated risks. The development goals are to improve analytical tools, ensure cybersecurity, and adapt regulatory frameworks. The results of the study may be useful for banks and researchers involved in the digitalization of the financial sector.

1. Biryukova EYu. Management of Credit Risks. Omsk Scientific Bulletin. 2007;4(58):73-75. (In Russ.)

2. Markov SN. Credit Risk and Methods of Its Management. Bulletin of the Siberian Institute of Business and Information Technologies. 2013;3(7):12-14. (In Russ.).

3. Ramzaeva EP, Kravchenko OV. Analysis of Corporate Credit Risk Management in a Commercial Bank. Bulletin of Udmurt University. Series "Economics and Law". 2023;33(4):623-628. (In Russ.)

4. Gumerov MF, Rizvanova IA. Credit Risks of Russian Commercial Banks: New Approaches to Management. Finance: Theory and Practice. 2023;27(2):64-75. (In Russ.).

5. Odintsov VO. Development of Risk Management Theory in the Context of Expanding the Presence of Credit Organizations in the Digital Space. Society: Politics, Economics, Law. 2024(1):115-121. (In Russ.).

6. Krivoshapova SV, Gorkov AA. Prospects for the Use of New Digital Technologies in Credit Risk Management and Credit-worthiness Assessment. Azimut of Scientific Research: Economics and Management. 2021;10(4(37)):96-99. (In Russ.).

7. Ushanov AE. Credit Portfolio of a Commercial Bank and Its Management. Innovations and Investments. 2023;(3):206-210. (In Russ.).

8. Ilyina LV. Banking Online Technologies: Opportunities and Risks. Economic Security and Quality. 2019;3(36):47-49. (In Russ.).

9. Rubtsov NN. Shadow Banking and Its Role in the Modern Global Financial System. Creative Economy;2016;10(6):577-600. (In Russ.).

10. Kosov ME, Rogova TM. Consumer Crediting: Problems and Development Trends. Bulletin of the Moscow University of the Ministry of Internal Affairs of Russia. 2021;(1):296-305. (In Russ.).

11. Shneyderman IM, Yarasheva AV. Credit Behavior of the Population: Trends and Risks. Voprosy statistiki. 2019;26(3):15-22. (In Russ.).

12. Gobareva YaL, Gordeevskaya OSh, Nikolaenkova MS. Big Data: Great Potential for Risk Management. Transport Business of Russia. 2016;(1):21-24. (In Russ.).

13. Isayev DV. Credit scoring assessment based on card transactions // Innovations and investments. 2021;(5):105-109. (In Russ.).

14. Bukharayeva MN. Analysis of new technologies in the field of risk managemen. Intelligent technologies in transport. 2023;S1(35-1):22-26. (In Russ.).

15. Bank of Russia: The use of big data in the financial sector and the risks of financial stability. Report for public consultations. (2021). Available from: https://www.cbr.ru/Content/Document/File/131359/Consultation_Paper_10122021.pdf [Accessed 16 June 2025]. (In Russ.).

16. Bank of Russia: Application of Artificial Intelligence in the Financial Market. Report for Public Consultation. (2023). Available from: https://www.cbr.ru/Content/Document/File/156061/Consultation_Paper_03112023.pdf [Accessed 16 June 2025]. (In Russ.).

17. Bank of Russia: Transformation of Risk Management System Using AI in Financial Organizations. Available from: https://www.cbr.ru/StaticHtml/File/162230/PeninAA_2.pdf [Accessed 16 June 2025]. (In Russ.).

18. Bank of Russia: Regulation of the Bank of Russia No. 483-P dated 06. 08. 2015 "On the Procedure for Calculating the Amount of Credit Risk Based on Internal Ratings". Available from: https://www.cbr.ru/faq_ufr/dbrnfaq/doc/?number=483-%D0%9F [Accessed 16 June 2025]. (In Russ.).

19. Bank of Russia: Development of an individual credit history subject rating (2015). Available from: https://www.cbr.ru/content/document/file/72590/consultation_paper_190626.pdf [Accessed 16 June 2025]. (In Russ.).

20. Bank of Russia: Draft of the main directions of financial market digitalization for the period of 2022–2024. Available from: https://www.cbr.ru/Content/Document/File/131360/oncfr_2022-2024.pdf [Accessed 16 June 2025]. (In Russ.).

21. Bank of Russia: Main Directions for the Development of Financial Technologies for the Period 2025–2027. (2024). Available from: https://www.cbr.ru/Content/Document/File/166399/onfintech_2025-27.pdf [Accessed 16 June 2025]. (In Russ.).