OPERATIONAL RISK MANAGEMENT GENERATED BY THE DIGITALIZATION OF THE BANKING SYSTEM

An essential aspect of digitalization in the banking sector is the use of modern software and IT platforms, which play a fundamental role in improving internal processes and providing quality services to customers. Although technology can bring considerable improvements in the efficiency of banking activities, it also generates a series of vulnerabilities that require careful and continuous management. In the banking sector, the operational risks generated by the use of software programs are diverse and can profoundly influence the activity of financial institutions. Risks can come from various sources, such as internal errors and problems, external attacks, insufficient or inappropriate training of employees and many others. The study shows that a major priority for credit institutions is protection against cyber attacks, which are increasingly frequent, despite the advanced security solutions applied and analyzes how proper management of operational risks can avoid incidents and reduce their negative effects on the functioning of banks. The study shows that although most financial institutions have implemented advanced security solutions, there are still significant gaps in the management of cyber risks, especially with regard to information systems and vulnerabilities to ransomware and phishing attacks. Managing operational risks caused by computer software is essential for guaranteeing the security and continuity of the functioning of banking institutions under optimal conditions.