Integration of Blockchain and AI Trism in Banking Transactions

• DOI: 10.47392/irjash.2024.040
• Publication Date: 2024-10-15T06:46:49Z
• Authors: Achyuta Suresh Babu; Kommula Viharika; Pemmaraju Gopina...; A Vikram Naga Sai
• Keywords: Wideband

Blockchain technology and artificial intelligence (AI) combined with banking operations is a significant advancement for the financial sector, providing increased security, efficiency, transparency. The issues faced by traditional systems, which mostly rely on manual procedures centralized databases, are rising include fraud, cyber risks, operational inefficiencies. By establishing safe, decentralized ledger that documents each transaction made via network, blockchain solves these problems guaranteeing data integrity transparency removing dangers connected single point of failure. AI algorithms, other hand, automate processes to optimize them provide real-time monitoring identify stop fraudulent activity before they do substantial harm. In addition, TRiSM (Trust, Risk, Security Management) presented as vital framework guarantee ethical soundness, dependability systems in banking. This integration not only improves security but also decreases human error, simplifies procedures, eliminates utilizing smart contracts carry out transactions according predetermined criteria. strategy lowers operating expenses, lessens weaknesses conventional greatly overall effectiveness effectively handled together TRiSM. combining technologies, suggested system offers reliable progressive response changing demands online environment, opening door ecosystem safer more effective.