Financial Risk Management in the Digital Age

Abstract

The financial industry is becoming more intelligent and digital, and the adoption of new technologies is promoting financial innovation while making financial security subject to disruption. Internet finance, as a product of the rapid development of information technology and the financial industry, has ushered in major changes in the development of the financial industry. The application of new technologies in the financial sector will bring about the development of intelligent investment consulting businesses for financial institutions The development of such a business reduces the threshold at which a customer can obtain financial services and improves the convenience and accessibility of financial services. Under the complex domestic and international economic situation, enterprises need to pay attention to financial risks and reasonably control financial risks. Applying blockchain technology to supply chain financial risk management has a natural match for solving the traditional difficulties in supply chain risk. This chapter mainly describes the types, assessment methods and existing problems of financial risks, as well as the prevention and control of network security risk management and Internet financial risk management arising therefrom, and also involves stress testing and scenario planning, blockchain-based financial risk management and risk culture, among which financial risk assessment and Internet financial risk management are mainly the content. With the help of information technology, we can effectively identify and prevent all kinds of risks and effectively promote the sustainable and healthy development of the financial industry.

Citation

Xiaoqi, Z. and Ali, M. (2024), "Financial Risk Management in the Digital Age", Ali, M., Choi-Meng, L., Puah, C.-H., Raza, S.A. and Sivanandan, P. (Ed.) Strategic Financial Management, Emerald Publishing Limited, Leeds, pp. 49-69. https://doi.org/10.1108/978-1-83608-106-720241004