THE ROLE OF FINTECH IN TRANSFORMING RISK MANAGEMENT AND FINANCIAL SERVICES: A SYSTEMATIC REVIEW AND META-ANALYSIS
Integrating artificial intelligence and blockchain in financial services has transformed risk management, enabling advanced fraud detection, compliance, and predictive analytics. However, there is a significant gap in the literature regarding a meta-analytic comparison of these technologies' e...
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| Format: | Article |
| Language: | English |
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FINTECH Alliance LLC
2025-04-01
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| Series: | Фінансово-кредитна діяльність: проблеми теорії та практики |
| Subjects: | |
| Online Access: | https://fkd.net.ua/index.php/fkd/article/view/4698 |
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| Summary: | Integrating artificial intelligence and blockchain in financial services has transformed risk management, enabling advanced fraud detection, compliance, and predictive analytics. However, there is a significant gap in the literature regarding a meta-analytic comparison of these technologies' effectiveness within the sector. The study aims to bridge the gap by conducting a meta-analysis, assessing the impact of AI and blockchain on various aspects of financial risk management. The study includes a meta-analysis approach, systematically synthesizing findings from recent studies on blockchain and AI in financial risk management. Following strict inclusion criteria, a comprehensive search through Scopus and Google Scholar led to the selection of 36 studies for analysis. The forest plots and summary tables were generated using Meta-Essentials, a statistical tool for meta-analyses that calculates effect sizes, confidence intervals, and pooled estimates using fixed and random effects models for accurate interpretation. The meta-analysis revealed that blockchain technology enhances financial security and transparency, particularly post-COVID, addressing operational risks with a modest but non-significant effect (HR = 1.04, 95% CI: 0.99-1.10, p = 0.11). AI demonstrated a neutral impact on risk management (HR = 0.99, 95% CI: 0.94-1.04, p = 0.71) but excelled in fraud detection and predictive analytics. Funnel plot analysis showed minimal publication bias, and forest plots confirmed consistent findings across studies. These results showed that Blockchain enhances transparency and security post-COVID, mitigating financial digital threats, while AI excels in fraud detection and predictive analytics. AI revolutionizes risk management through predictive insights, while blockchain ensures data integrity. Future research should refine sector-specific applications for both technologies.
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| ISSN: | 2306-4994 2310-8770 |