INNOVATIVE BANKING TECHNOLOGIES IN THE SYSTEM OF ENSURING BANKING SECURITY UNDER CYBER THREATS

Abstract

The article examines the theoretical and applied foundations of using innovative banking technologies within the system of ensuring banking security under increasing cyber threats. It substantiates that the active digital transformation of banking activities, the development of remote service channels, mobile and internet banking, electronic payments, open banking, and modern information and communication technologies, while improving the efficiency of financial transactions, also generate new cyber risks and increase the requirements for establishing a comprehensive banking security system. The need to move from a predominantly reactive response to cyber incidents towards a proactive model of cyber risk management based on the principles of prevention, adaptability, continuity, comprehensiveness, and continuous monitoring of the digital environment is substantiated.

The main directions of implementing innovative technologies in the banking sector are systematized, including the digitalization of back-office processes, the development of electronic payment technologies, the use of cloud services, artificial intelligence and machine learning technologies, biometric identification methods, electronic identification systems, mobile and internet banking, QR payments, and blockchain technologies. It is determined that these technologies create additional opportunities for automating the processes of detecting anomalous activity, forecasting cyber threats, protecting information resources, improving the reliability of financial transactions, and ensuring the continuity of banking operations.

A conceptual model of the mechanism for ensuring bank cyber resilience within the banking security framework is proposed. The model provides for the development of a cyber resilience concept and its implementation through interconnected systems of cyber threat analysis and forecasting, impact assessment, cyber strategy development, determination of objectives, risk tolerance levels and cyber resilience indicators, selection of cyber risk management methods, development of supporting mechanisms, monitoring, control, testing, auditing, adaptation, and recovery following cyber incidents. Particular attention is paid to the comprehensive assessment of a banking institution's level of cyber resilience based on qualitative and quantitative indicators characterizing the technical, informational, managerial, and organizational parameters of its security.

The expediency of establishing a specialized Cyber Resilience Center as a key organizational element of strategic cyber risk management is substantiated. Such a center ensures the integration of cybersecurity processes, risk management, IT infrastructure quality control, and business continuity management. It is proved that the implementation of the proposed model will facilitate the timely forecasting, detection, prevention, and neutralization of cyber threats, improve the effectiveness of cyber risk management, minimize financial and reputational losses, ensure the stable functioning of banking institutions, and strengthen banking security in the context of the digital transformation of the financial sector.