(wl-4968)-Governance Challenges in Use of Advanced Technology in Financial Intermediation

The adoption of advanced technology has emerged as a transformative force in finance. The growth of finance is marked by the proliferative use of Cloud Computing, Robotic Process Automation (RPA), Machine learning (ML), Artificial Intelligence (AI) and Generative AI (GenAI). However, with new trends come new threats. The burgeoning use of technology poses a host of governance and policy challenges in terms of regulatory compliance, risk mitigation and systemic stability. This study explores the governance challenges in-depth faced by financial entities, examining regulatory frameworks, ethical considerations, and practical implications for stakeholders in financial intermediation.