REGULATORY CHALLENGES IN THE ERA OF DIGITAL BANKING

REGULATORY CHALLENGES IN THE ERA OF DIGITAL BANKING

A.VASANTHY, RESEARCH SCHOLAR, ALAGAPPA INSTITUTE OF MANAGEMENT, ALAGAPPA UNIVERSITY, KARAIKUDI - 630 003.

DR.S.CHANDRAMOHAN, PROFESSOR, ALAGAPPA INSTITUTE OF MANAGEMENT, ALAGAPPA UNIVERSITY, KARAIKUDI – 630 003.

ABSTRACT

The surge of digital banking has reshaped finance, unveiling boundless possibilities while unveiling a labyrinth of regulatory complexities. At the crossroads of finance and technology, a robust regulatory framework becomes the cornerstone, harmonizing innovation with safeguards for consumers, data, and financial stability. Probes the intricate tapestry of challenges gripping financial institutions in the digital banking domain. From data governance to cyber security, and from grappling with anti-money laundering (AML) protocols to bridging cross-border regulatory gaps, institutions confront a swiftly evolving landscape amid the lagging pace of regulatory adaptations. The urgency of addressing these regulatory hurdles in the digital banking sphere is palpable. Collaborative synergy among policymakers, regulatory bodies, industry mavens, and tech virtuosos becomes paramount, shaping agile regulations that fuel innovation without compromising compliance. Aspires to illuminate the imperativeness of confronting regulatory challenges in digital banking. It champions the collective effort to forge a secure, transparent, and customer-centric financial realm. Envisioned as an incubator of shared insights, the imminent conference strives to architect strategies, share best practices, and foster a mosaic of collaborative solutions.

KEYWORDS: Digital Banking, Finance, Regulatory Complexity, Technology, Regulatory Framework, Innovation, Consumer Protection, Data Protection, Financial Stability, Challenges.