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