Beyond cybersecurity: Why banks need a dedicated AI risk strategy
By Michael Sell, SVP & Global Head of institutional Outreach, GARP
Technology risk in banking and financial services has typically revolved around cybersecurity: protect the systems, safeguard data, stay ahead of attackers. Artificial intelligence changes that equation. Generative and agentic AI introduce a distinct category of risk—spanning model governance, data integrity, and algorithmic accountability—that falls outside traditional cyber frameworks. As generative and agentic AI use cases move from operational support functions into core business decisioning, the importance of creating robust AI governance is becoming critical.
India’s AI Moment Needs a Governance Answer
Few markets illustrate this better than India, where banks are integrating AI workflows into customer engagement and support, credit assessment and other risk management processes including fraud detection, anti-money laundering surveillance, and risk reporting.
Fintech development is allowing India’s banking sector to serve hundreds of millions of customers across the country with greater efficiency and financial inclusion with...
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