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August 10, 2022

IBM improves risk management in the financial-banking sector

The integrated risk management continues to be an actual issue for the entire financial industry, which is amplified by the recent regulations enforced as answer to the crisis. This is one of the conclusions reached by the Press Briefing ‘Smarter Finances: Foreseeing and Managing Risk,’ organised by IBM Romania. The company has been dedicated, for decades, to delivering technologies for the providers of financial services. Two months ago, IBM presented the developed capabilities of non-linear logic and the linguistic capabilities of a news system called Watson; this new system represents a huge step that allows computers to connect with humans in a more precise manner, due to the system of understanding the natural language, which it incorporates. Most banks use risk systems built around confidentiality structures, using subjective hypotheses in most cases. The high-performance computing technology, evinced by the capabilities implemented into the Watson supercomputer can improve these processes, offering more visibility upon risk concentrations and the activities related to risk, as they happen, while also identifying the most important risk scenarios, explains a press release.

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