International Research Journal of Innovations in Engineering and Technology - IRJIET International Open Access, Monthly, Peer Reviewed, Reputed Journal ISSN (online): 2581-3048

Impact Factor (2025): 6.9

DOI Prefix: 10.47001/IRJIET

Transforming Banking Operations with Generative AI Innovations in Customer Experience, Fraud Detection, and Risk Management

Rahul KalvaPrincipal Engineer, Dublin, CA, USA

Vol 8 No 12 (2024): Volume 8, Issue 12, December 2024 | Pages: 157-166

International Research Journal of Innovations in Engineering and Technology

OPEN ACCESS | Research Article | Published Date: 31-12-2024

doi Logo doi.org/10.47001/IRJIET/2024.812024

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Abstract

Generative AI is revolutionizing the banking industry by leveraging advanced machine learning to enhance operations, customer experience, and risk management. This study explores the transformative potential of generative AI in key banking functions, including personalized recommendations, real-time monitoring, credit risk prediction, market trend analysis, automated loan approvals, and pitchbook creation. It highlights global trends, challenges, and opportunities in adopting generative AI in banking. The findings reveal that strategic implementation of generative AI improves operational efficiency, fraud detection, customer satisfaction, and regulatory compliance. However, challenges like data governance, transparency, regulatory alignment, and cybersecurity remain critical to address. This paper concludes with actionable insights into overcoming these challenges and maximizing the value of generative AI in banking operations.

Keywords

Banking Operations, Generative AI, Customer Experience, Fraud Detection, and Risk Management


Citation of this Article

Rahul Kalva. (2024). Transforming Banking Operations with Generative AI Innovations in Customer Experience, Fraud Detection, and Risk Management. International Research Journal of Innovations in Engineering and Technology - IRJIET, 8(12), 157-166. Article DOI https://doi.org/10.47001/IRJIET/2024.812024

Licence Copyright (c) 2026 International Research Journal of Innovations in Engineering and Technology creative common licence This work is licensed under Creative common Attribution Non Commercial 4.0 Internation Licence
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