Financial Data Governance and Analytics-Driven Risk Surveillance: Improving Transparency, Accuracy, and Decision-Making in Modern Banking Systems

Abstract

Digital transformation, high-volume financial transactions and regulatory requirements have created a more complicated modern banking landscape, which is why sound financial data governance and risk surveillance based on analytics is more important than ever before. Poorly managed, incomplete, and inaccurate financial data can impact risk assessment, regulatory compliance, and strategic decision making. This research focuses on the significance of financial data governance and how advanced analytics can enhance transparency, data accuracy, and decision-making processes in contemporary financial institutions. The research suggests an integrated approach to related practices in data governance, data quality mechanisms, and data analysis-based risk surveillance approaches for improving financial risk management.