The adoption of innovative digital technologies of late has been making risk control and management better. Enterprises digitally transform their credit risk management processes to manage and navigate volatile market conditions, new regulatory pressures, increasing customer expectations, and other credit risks related to customers and vendors. Lower operational costs, quicker decision-making, and better customer experience are a few of the potential benefits of intelligent credit risk management.
It is to be noted that none of these technologies work in silos, but in combination to manage credit risks. We will examine some technologies that are transforming credit risk management in enterprises to protect these businesses from systemic and unsystematic risks.