Financial Risk Management and Explainable, Trustworthy, Responsible AI
Open accessAbstract
This perspective paper is based on several sessions by the members of the Round Table AI at FIRM1, with input from a number of external and international speakers. Its particular focus lies on the management of the model risk of productive models in banks and other financial institutions. The models in view range from simple rules-based approaches to Artificial Intelligence (AI) or Machine learning (ML) models with a high level of sophistication. The typical applications of those models are related to predictions and decision making around the value chain of credit risk (including accounting side under IFRS9 or related national GAAP approaches), insurance risk or other financial risk types. We expect more models of higher complexity in the space of anti-money laundering, fraud detection and transaction monitoring as well as a rise of AI/ML models as alternatives to current methods in solving some of the more intricate stochastic differential equations needed for the pricing and/or valuation of derivatives. The same type of model is also successful in areas unrelated to risk management, such as sales optimization, customer lifetime value considerations, robo-advisory, and other fields of applications. The paper refers to recent related publications from central banks, financial supervisors and regulators as well as other relevant sources and working groups. It aims to give practical advice for establishing a risk-based governance and testing framework for the mentioned model types and discusses the use of recent technologies, approaches, and platforms to support the establishment of responsible, trustworthy, explainable, auditable, and manageable AI/ML in production. In view of the recent EU publication on AI, also referred to as the EU Artificial Intelligence Act (AIA), we also see a certain added value for this paper as an instigator of further thinking outside of the financial services sector, in particular where “High Risk” models according to the mentioned EU consultation are concerned.
The claims and statistics of this paper haven’t been checked yet.
Run the check — free, no account needed. It reads the open-access text and checks the sources it cites.
Integrity signals
Registry
Cites
Statistics
Claims the paper makes
The claims and statistics of this paper haven’t been checked yet.
Run the check — free, no account needed. It reads the open-access text and checks the sources it cites.
Claims other papers make about this one
Each is checked against this paper’s own text: does it say what the citing paper says it does?
XAI ensures regulatory compliance by providing explanations and justifications for credit decisions, helping financial institutions adhere to regulatory requirements and ethical standards while making informed lending decisions.
“XAI ensures regulatory compliance by providing explanations and justifications for credit decisions, helping financial institutions adhere to regulatory requirements and ethical standards while making informed lending decisions.”
From Recent Emerging Techniques in Explainable Artificial Intelligence to Enhance the Interpretable and Understanding of AI Models for Human (2025) · cites this paper as [48]
Self-check
Percentages, sums and reported differences re-computed from the paper’s own numbers.
The self-check needs the paper’s full text.
Cites
Explainable Machine Learning in Credit Risk Management
Bussmann, N., Giudici, P., Marinelli, D., & Papenbrock, J. (2020) · Computational Economics · doi:10.1007/s10614-020-10042-0 · Cited by 635 · see citing works
Self-citation50 Years of Test (Un)fairness: Lessons for Machine Learning
Hutchinson, B., & Mitchell, M. (2019) · Proceedings of the Conference on Fairness, Accountability, and Transparency · doi:10.1145/3287560.3287600 · Cited by 297 · see citing works
Trustworthy AI: A Computational Perspective
Liu, H., Wang, Y., Fan, W., Liu, X., Li, Y., Jain, S., Liu, Y., Jain, A. K., & Tang, J. (2021) · arXiv · Cited by 261 · see citing works
Fairness in Decision-Making — The Causal Explanation Formula
Zhang, J., & Bareinboim, E. (2018) · Proceedings of the AAAI Conference on Artificial Intelligence · doi:10.1609/aaai.v32i1.11564 · Cited by 202 · see citing works
Machine Learning Explainability in Finance: An Application to Default Risk AnalysisPreprint
Bracke, P., Datta, A., Jung, C., & Sen, S. (2019) · SSRN Electronic Journal · doi:10.2139/ssrn.3435104 · Cited by 175 · see citing works
Z-Inspection <sup>®</sup> : A Process to Assess Trustworthy AI
Zicari, R. V., Brodersen, J., Brusseau, J., Dudder, B., Eichhorn, T., Ivanov, T., Kararigas, G., Kringen, P., McCullough, M., Moslein, F., et al. (2021) · IEEE Transactions on Technology and Society · doi:10.1109/tts.2021.3066209 · Cited by 134 · see citing works
50 Years of Test (Un)fairness: Lessons for Machine LearningPreprint
Hutchinson, B., & Mitchell, M. (2018) · arXiv (Cornell University) · doi:10.48550/arxiv.1811.10104 · Cited by 118 · see citing works
A survey on artificial intelligence assurance
Batarseh, F. A., Freeman, L., & Huang, C. (2021) · Journal Of Big Data · doi:10.1186/s40537-021-00445-7 · Cited by 117 · see citing works
Causal Reasoning for Algorithmic FairnessPreprint
Loftus, J. R., Russell, C., Kusner, M. J., & Silva, R. (2018) · arXiv (Cornell University) · doi:10.48550/arxiv.1805.05859 · Cited by 110 · see citing works
Gill, N., Hall, P., Montgomery, K., & Schmidt, N. (2020) · Information · doi:10.3390/info11030137 · Cited by 36 · see citing works
Interpretable Machine Learning for Diversified Portfolio Construction
Jaeger, M., Krügel, S., Marinelli, D., Papenbrock, J., & Schwendner, P. (2021) · The Journal of Financial Data Science · doi:10.3905/jfds.2021.1.066 · Cited by 30 · see citing works
Self-citationA United States Fair Lending Perspective on Machine Learning
Hall, P., Cox, B., Dickerson, S., Kannan, A. R., Kulkarni, R., & Schmidt, N. (2021) · Frontiers in Artificial Intelligence · doi:10.3389/frai.2021.695301 · Cited by 25 · see citing works
Papenbrock, J., Schwendner, P., Jaeger, M., & Krügel, S. (2021) · The Journal of Financial Data Science · doi:10.3905/jfds.2021.1.056 · Cited by 21 · see citing works
Self-citationInterpretable Machine Learning for Diversified Portfolio ConstructionPreprint
Jaeger, M., Krügel, S., Marinelli, D., Papenbrock, J., & Schwendner, P. (2020) · SSRN Electronic Journal · doi:10.2139/ssrn.3730144 · Cited by 15 · see citing works
Self-citationRepresentative & Fair Synthetic DataPreprint
Tiwald, P., Ebert, A., & Soukup, D. T. (2021) · arXiv (Cornell University) · doi:10.48550/arxiv.2104.03007 · Cited by 6 · see citing works
Computing platforms for big data analytics and artificial intelligencePreprint
Bruno, G., Jani, H., Schmidt, R., & Tissot, B. (2020) · RePEc: Research Papers in Economics · Cited by 3 · see citing works
Flagged first, then by citations
Cited by
Sorted by citations
Lim, T. (2024) · Artificial Intelligence Review · doi:10.1007/s10462-024-10708-3 · Cited by 180 · see citing works
Mathew, D. E., Ebem, D. U., Ikegwu, A. C., Ukeoma, P. E., & Dibiaezue, N. F. (2025) · Neural Processing Letters · doi:10.1007/s11063-025-11732-2 · Cited by 168 · see citing works
The pathway to curb greenwashing in sustainable growth: The role of artificial intelligence
Zhang, D. (2024) · Energy Economics · doi:10.1016/j.eneco.2024.107562 · Cited by 171 · see citing works
A comprehensive review on financial explainable AI
Yeo, W. J., van der Heever, W., Mao, R., Cambria, E., Satapathy, R., & Mengaldo, G. (2025) · Artificial Intelligence Review · doi:10.1007/s10462-024-11077-7 · Cited by 138 · see citing works
Machine Learning for Credit Risk Prediction: A Systematic Literature Review
Noriega, J., Rivera, L., & Herrera, J. (2023) · Data · doi:10.3390/data8110169 · Cited by 116 · see citing works
Towards Risk‐Free Trustworthy Artificial Intelligence: Significance and Requirements
Alzubaidi, L., Al-Sabaawi, A., Bai, J., Dukhan, A., Alkenani, A. H., Al‐Asadi, A., Alwzwazy, H. A., Manoufali, M., Fadhel, M. A., Albahri, A. S., et al. (2023) · International Journal of Intelligent Systems · doi:10.1155/2023/4459198 · Cited by 106 · see citing works
Evaluating Trustworthiness in AI: Risks, Metrics, and Applications Across Industries
Nastoska, A., Jancheska, B., Rizinski, M., & Trajanov, D. (2025) · Electronics · doi:10.3390/electronics14132717 · Cited by 110 · see citing works
Rane, N. L., Choudhary, S., & Rane, J. (2023) · SSRN Electronic Journal · doi:10.2139/ssrn.4640316 · Cited by 94 · see citing works
AI in credit scoring: A comprehensive review of models and predictive analytics
Addy, W. A., Ajayi-Nifise, A. O., Bello, B. G., Tula, S. T., Odeyemi, O., & Falaiye, T. O. (2024) · Global Journal of Engineering and Technology Advances · doi:10.30574/gjeta.2024.18.2.0029 · Cited by 72 · see citing works
Reviewing the role of AI in fraud detection and prevention in financial services
Odeyemi, O., Mhlongo, N. Z., Nwankwo, E. E., & Soyombo, O. T. (2024) · International Journal of Science and Research Archive · doi:10.30574/ijsra.2024.11.1.0279 · Cited by 58 · see citing works
Opening the black box – Quantile neural networks for loss given default prediction
Kellner, R., Nagl, M., & Rösch, D. (2021) · Journal of Banking & Finance · doi:10.1016/j.jbankfin.2021.106334 · Cited by 54 · see citing works
Generative AI for Finance: Applications, Case Studies and Challenges
Sai, S., Arunakar, K., Chamola, V., Hussain, A., Bisht, P., & Kumar, S. (2025) · Expert Systems · doi:10.1111/exsy.70018 · Cited by 40 · see citing works
Machine learning in banking risk management: Mapping a decade of evolution
Heß, V. L., & Damásio, B. (2025) · International Journal of Information Management Data Insights · doi:10.1016/j.jjimei.2025.100324 · Cited by 44 · see citing works
Raufi, B., Finnegan, C., & Longo, L. (2024) · Communications in computer and information science · doi:10.1007/978-3-031-63803-9_20 · Cited by 21 · see citing works
Knowledge mapping of model risk in banking
Cosma, S., Rimo, G., & Torluccio, G. (2023) · International Review of Financial Analysis · doi:10.1016/j.irfa.2023.102800 · Cited by 21 · see citing works
ESG investing in the AI era: Features of developed and developing countries
Khoruzhy, L. I., Semenov, A. V., Averin, A. V., & Mustafin, T. A. (2022) · Frontiers in Environmental Science · doi:10.3389/fenvs.2022.951646 · Cited by 20 · see citing works
Rajeswari, M., Kumar, N., Raman, P., Patjoshi, P. K., Singh, V., & Pundir, S. (2022) · International Conference on Contemporary Computing and Informatics (IC3I) · doi:10.1109/ic3i56241.2022.10072851 · Cited by 18 · see citing works
Artificial Intelligence in Risk Management
Yadav, P., Gupta, P., Sijariya, R., & Sharma, Y. (2024) · doi:10.1002/9781394175574.ch1 · Cited by 18 · see citing works
Singh, S. (2024) · Journal of Electrical Systems · doi:10.52783/jes.2929 · Cited by 17 · see citing works
Explainable Machine Learning in Risk Management: Balancing Accuracy and Interpretability
Wang, M., Zhang, X., Yang, Y., & Wang, J. (2025) · Journal of Financial Risk Management · doi:10.4236/jfrm.2025.143011 · Cited by 17 · see citing works
The Transformative Impact of Ai On Csr, Esg, and Sustainability: Critical Review and Case Studies
Ozkan, B. (2024) · International Finance Review · doi:10.1108/s1569-376720240000023012 · Cited by 16 · see citing works
Kumar, A., Singh, K. U., Kumar, G., Choudhury, T., & Kotecha, K. V. (2023) · International Symposium on Multidisciplinary Studies and Innovative Technologies (ISMSIT) · doi:10.1109/ismsit58785.2023.10304958 · Cited by 15 · see citing works
Beyond polarity: How ESG sentiment influences idiosyncratic volatility in the Turkish stock market
Atak, A. (2024) · Borsa Istanbul Review · doi:10.1016/j.bir.2024.11.003 · Cited by 15 · see citing works
Subburayan, B., Sankarkumar, A. V., Singh, R. K., & Mushi, H. M. (2024) · Financial Mathematics and Fintech · doi:10.1007/978-3-031-47324-1_9 · Cited by 13 · see citing works
Navigating and Addressing Public Concerns in AI: Insights From Social Media Analytics and Delphi
Maghsoudi, M., Mohammadi, A., & Habibipour, S. (2024) · IEEE Access · doi:10.1109/access.2024.3440660 · Cited by 15 · see citing works
Matytsin, D. E., Petrenko, Y. S., & Савельева, Н. К. (2022) · Risks · doi:10.3390/risks10110206 · Cited by 12 · see citing works
Evaluating AI-driven credit scoring models versus traditional statistical techniques
Vakrani, D. S., Padhye, P. S., Gupta, S. K., Roy, J. K., Nerlekar, V. S., & Parashar, N. (2025) · Discover Artificial Intelligence · doi:10.1007/s44163-025-00772-1 · Cited by 11 · see citing works
The Strategic Role of Artificial Intelligence (AI) in Service Delivery Systems
Satpathy, I., Nayak, A., & Jain, V. K. (2024) · Advances in hospitality, tourism and the services industry (AHTSI) book series · doi:10.4018/979-8-3693-7909-7.ch014 · Cited by 13 · see citing works
Adeniran, I. A., Efunniyi, C. P., Osundare, O. S., & Abhulimen, A. O. (2024) · Finance & Accounting Research Journal · doi:10.51594/farj.v6i8.1505 · Cited by 11 · see citing works
TransCORALNet: A two-stream transformer CORAL networks for supply chain credit assessment cold start
Shi, J., Siebes, A. P. J. M., & Mehrkanoon, S. (2025) · Expert Systems with Applications · doi:10.1016/j.eswa.2025.127581 · Cited by 11 · see citing works
Horobets, N. S., Резник, О., МАЛЮК, В., Vyhivskyi, I., & Bobrishova, L. (2025) · Journal of Money Laundering Control · doi:10.1108/jmlc-03-2025-0041 · Cited by 10 · see citing works
Ethics and Artificial Intelligence
Azad, Y., & Kumar, A. (2024) · Advances in web technologies and engineering book series · doi:10.4018/979-8-3693-1762-4.ch012 · Cited by 8 · see citing works
Wei, R., Wong, E. Y. C., Sun, M., & Wang, Z. (2024) · Journal of Organizational and End User Computing · doi:10.4018/joeuc.350268 · Cited by 7 · see citing works
Artificial Intelligence in Data Governance for Financial Decision-Making: A Systematic Review
Choowan, P., & Daovisan, H. (2025) · Big Data and Cognitive Computing · doi:10.3390/bdcc10010008 · Cited by 7 · see citing works
Scientific Development of Robo-Advisor: A Bibliometric Analysis
García, R. Q., Arenas‐Parra, M., & Rico-Pérez, H. (2022) · Review of Economics and Finance · doi:10.55365/1923.x2022.20.87 · Cited by 7 · see citing works
Kiseleva, O., Firsova, A., & Vavilina, A. (2025) · Sustainability · doi:10.3390/su17104705 · Cited by 5 · see citing works
AI and Financial Risk Management Revolutionizing Risk Assessment and Mitigation
Singh, P. (2025) · Advances in computational intelligence and robotics book series · doi:10.4018/979-8-3373-1200-2.ch019 · Cited by 8 · see citing works
Explainable Credit Score Risk Analysis: Integrating Outlier Detection and Ensemble Modelling
Subitha, D., Kavitha, J. C., Santosh, K., & Rahul, S. G. (2025) · doi:10.1109/icoact63339.2025.11005034 · Cited by 5 · see citing works
Revolutionizing the Financial Landscape
Amarnath, D. D., & Thimothy, S. J. (2024) · Advances in finance, accounting, and economics book series · doi:10.4018/979-8-3693-1503-3.ch003 · Cited by 5 · see citing works
Importance of Using AI and ML in the Financial Sector for Risk Prevention and Management
Vashishth, T. K., Sharma, V., Kaushik, V., Bagar, V. K., Sharma, R., & Kumar, R. (2025) · Advances in finance, accounting, and economics book series · doi:10.4018/979-8-3693-8507-4.ch027 · Cited by 5 · see citing works
The Role of AI in Financial Forecasting: ChatGPT's Potential and Challenges
Bi, S., Xiao, J., & Deng, T. (2024) · Asia-Pacific Artificial Intelligence and Big Data Forum (AIBDF) · doi:10.1145/3718491.3718663 · Cited by 5 · see citing works
Castro, J. A. H. (2022) · Interfases · doi:10.26439/interfases2022.n015.5898 · Cited by 5 · see citing works
Bartelt, C., & Röser, A. M. (2024) · Gazdaság és Társadalom · doi:10.21637/gt.2024.2.02 · Cited by 4 · see citing works
Hu, Y. (2025) · Journal of Computational Methods in Sciences and Engineering · doi:10.1177/14727978251338006 · Cited by 8 · see citing works
Increasing Trust in AI with Explainable Artificial Intelligence (XAI): A Literature Review
Nasien, D., Adiya, M. H., Anggara, D. W., Baharum, Z., Yacob, A., & Rahmadhani, U. S. (2024) · Journal of Applied Business and Technology · doi:10.35145/jabt.v5i3.193 · Cited by 4 · see citing works
Artificial Intelligence (AI) and Retail InvestmentPreprint
Sifat, I. M. (2023) · SSRN Electronic Journal · doi:10.2139/ssrn.4539625 · Cited by 4 · see citing works
ROLE OF ARTIFICIAL INTELLIGENCE IN FINANCIAL MANAGEMENT
Deshmukh, P. B., Nikam, P., & Moholkar, N. (2024) · ShodhKosh Journal of Visual and Performing Arts · doi:10.29121/shodhkosh.v5.i6.2024.1765 · Cited by 3 · see citing works
Transaction Scam Detection Using Flask Frame Work
Rohini, M., Archana, T., Thulasi Raman, S., & Mukilan, R. (2025) · International Conference on Multi-Agent Systems for Collaborative Intelligence (ICMSCI) · doi:10.1109/icmsci62561.2025.10893993 · Cited by 3 · see citing works
Akter, R. (2026) · Strategic Business Research · doi:10.1016/j.sbr.2026.100118 · Cited by 3 · see citing works
Analyzing Trustworthiness and Explainability in Artificial Intelligence: A Comprehensive Review
Dixit, M., Kansal, I., Khullar, V., Kumar, R., & Kumar, S. (2024) · Recent Advances in Electrical & Electronic Engineering (Formerly Recent Patents on Electrical & Electronic Engineering) · doi:10.2174/0123520965308169240616144800 · Cited by 3 · see citing works
Harnessing AI for Fraud Detection and Prevention in Finance and Banking
Prakash, V., & Deokar, R. (2024) · Advances in computational intelligence and robotics book series · doi:10.4018/979-8-3693-4252-7.ch018 · Cited by 3 · see citing works
Artificial Intelligence in Financial and Operational Risk Management: A Critical Analysis
Ogundimu, O. (2025) · Cognizance Journal of Multidisciplinary Studies · doi:10.47760/cognizance.2025.v05i03.035 · Cited by 3 · see citing works
Liu, Z., & Liang, H. (2025) · Journal of Behavioral and Experimental Finance · doi:10.1016/j.jbef.2025.101081 · Cited by 3 · see citing works
Trust‐Affording Action: Citizens’ Everyday Relations With Algorithmized Public Services
Rannisto, A., & Vainionpää, F. (2025) · Social Inclusion · doi:10.17645/si.10001 · Cited by 4 · see citing works
DOMINO: Domain-aware loss for deep learning calibration
Stolte, S. E., Volle, K., Indahlastari, A., Albizu, A., Woods, A. J., Brink, K., Hale, M., & Fang, R. (2023) · Software Impacts · doi:10.1016/j.simpa.2023.100478 · Cited by 3 · see citing works
Exploring the Role of Explainable AI in Compliance Models for Fraud Prevention
Okenwa, C. D., David, O. D., Orelaja, A., & Akinwande, O. T. (2024) · International Journal of Latest Technology in Engineering Management & Applied Science · doi:10.51583/ijltemas.2024.130524 · Cited by 2 · see citing works
Machine Learning Approaches for Investing Strategies in Stock Market
Sakshi, S., Kumar, A., Shukla, R. P., & Jain, S. (2024) · Lecture notes in networks and systems · doi:10.1007/978-3-031-64836-6_4 · Cited by 3 · see citing works
Integrated Explainable AI for Financial Risk Management: A Systematic Approach
Murthy, P. G., Gaur, S., -, T. J., Sivarethinamohan, R., Sharma, G., & Rathore, R. (2025) · IEEE International Conference on Interdisciplinary Approaches in Technology and Management for Social Innovation (IATMSI) · doi:10.1109/iatmsi64286.2025.10984539 · Cited by 3 · see citing works
Tiron‐Tudor, A., Faragalla, W. A., & Pianoschi, A. (2025) · Digital Finance · doi:10.1007/s42521-025-00138-3 · Cited by 7 · see citing works
Gradient Boosting and Explainable AI for Financial Risk Management: A Comprehensive ReviewPreprint
Joshi, S. (2025) · Preprints.org · doi:10.20944/preprints202504.0817.v1 · Cited by 3 · see citing works
Credit Risk Analysis using Explainable Artificial Intelligence
Sowmiya, M. N., Jaya Sri, S., Deepshika, S., & Hanushya Devi, G. (2024) · Journal of Soft Computing Paradigm · doi:10.36548/jscp.2024.3.004 · Cited by 2 · see citing works
AI in Finance: Innovative Approaches for Sustainable Business Models
Bartelt, C., & Röser, A. M. (2024) · E-conom · doi:10.17836/ec.2024.2.007 · Cited by 2 · see citing works
Sun, H. (2025) · International Conference on Artificial Intelligence, Internet and Digital Economy (ICAID) · doi:10.1109/icaid65275.2025.11034435 · Cited by 2 · see citing works
Construction of Digital Financial Risk Prediction Model based on Artificial Intelligence
Zhang, M., & Wang, X. (2025) · International Conference on Intelligent Computing and Knowledge Extraction (ICICKE) · doi:10.1109/icicke65317.2025.11136232 · Cited by 2 · see citing works
A Big Data-Driven Information Model for Enterprise Financial Risk Management
Yuan, J. (2025) · Information Resources Management Journal · doi:10.4018/irmj.396698 · Cited by 2 · see citing works
Artificial Intelligence in Accounting: Implications for Practices and Education
Srirejeki, K., & Liang, J. (2024) · SAR (Soedirman Accounting Review) Journal of Accounting and Business · doi:10.32424/1.sar.2024.9.01.12512 · Cited by 2 · see citing works
Data Protection Challenges and Opportunities Due to Emerging AI and ML Technologies
Hewage, C. T. E. R., Yasakethu, S. L. P., & Jayakody, D. N. K. (2024) · Springer eBooks · doi:10.1007/978-3-031-76473-8_1 · Cited by 2 · see citing works
Kouki, F., Mengash, H. A., Alruwais, N. M., Miled, A. B., Aljabri, J., & Salama, A. S. (2024) · Fractals · doi:10.1142/s0218348x2540033x · Cited by 2 · see citing works
Artificial Intelligence for Fraud Detection
Tiwari, R., Jain, V., Chauhan, K., Dwivedi, H., & Bajaj, S. (2025) · Advances in computational intelligence and robotics book series · doi:10.4018/979-8-3373-3384-7.ch008 · Cited by 2 · see citing works
Khan, A., Ali, A., Khan, J., Ullah, F., & Khan, M. A. (2023) · Research Square · doi:10.21203/rs.3.rs-3209115/v1 · Cited by 2 · see citing works
Human Factor on Artificial Intelligence: The Way to Ethical and Responsible Economic Growth
García‐Mieres, H., Pedrosa, I., & Pascual, J. (2023) · Business, management and economics · doi:10.5772/intechopen.111915 · Cited by 1 · see citing works
Nanda, S. K., Krishna, S. H., Ram, S. T., Jena, S. K., Hasan, M. F., & Durga, S. (2024) · International Conference on Trends in Quantum Computing and Emerging Business Technologies (TQCEBT) · doi:10.1109/tqcebt59414.2024.10545191 · Cited by 1 · see citing works
Etenyi, P. H., Nelima, M., & Maingi, M. (2024) · African Journal of Empirical Research · doi:10.51867/ajernet.5.4.25 · Cited by 1 · see citing works
Digitalization of Financial Reporting
Zamora, M. ª. P. M., & Borralho, J. M. C. (2024) · Advances in finance, accounting, and economics book series · doi:10.4018/979-8-3693-5923-5.ch005 · Cited by 1 · see citing works
Gao, L. (2025) · International Conference on Intelligent Computing and Robotics (ICICR) · doi:10.1109/icicr65456.2025.00198 · Cited by 1 · see citing works
ELfolio: Strategy Evolution via Large Language Models for Portfolio Optimization
Zeng, X., Chen, C., Wang, Y., & Liang, Y. (2025) · Intelligent Computing · doi:10.34133/icomputing.0176 · Cited by 1 · see citing works
Ayatollahi, M., & Jafari, S. M. (2026) · Computational Economics · doi:10.1007/s10614-025-11307-2 · Cited by 1 · see citing works
GenRL FinTech: supporting the risk management process through reinforcement intelligence
Sheikh, R., Miah, S. J., Skinner, J. L., III, & Cook, P. (2026) · Discover Artificial Intelligence · doi:10.1007/s44163-026-01133-2 · Cited by 1 · see citing works
Big Data Analytics in Digital Banking Fraud Detection Technologies and Methods
Toa, C. K., Lew, K. L., Yam, K. Y. J., Khoo, S. H., & See, K.-X. A. (2026) · International Journal on Robotics Automation and Sciences · doi:10.33093/ijoras.2026.8.1.6 · Cited by 1 · see citing works
Бондаренко, Д. В. (2026) · Regional and Branch Economy · doi:10.47576/2949-1916.2026.4.4.021 · Cited by 1 · see citing works
Bu, Y., Tang, M., Du, X., & Li, H. (2026) · Economic Analysis and Policy · doi:10.1016/j.eap.2026.05.019 · Cited by 1 · see citing works
Devarajan, Y., Acharya, S. K., Jakhar, S. K., Nagappan, B., Saxena, S. A., Naik, Y., Jayabal, R., & Mehar, K. (2026) · IET Cyber-Physical Systems Theory & Applications · doi:10.1049/cps2.70062 · Cited by 1 · see citing works
Quantum computing in finance: a literature review and future directions for trustworthy financial AI
Muzzioli, S., Raheem, F., Ferrara, M., Giudici, P., & Siciliano, R. (2026) · Frontiers in Artificial Intelligence · doi:10.3389/frai.2026.1929828
FINANCIAL, DIGITAL AND LEGAL MECHANISMS FOR REGULATORY COMPLIANCE IN NON-BANK FINANCIAL INSTITUTIONS
Прокопенко, Ж. В., Levchenko, O., Kochubei, L., DOMASHENKO, O., Shcheglova, K., & Pylypets, A. (2026) · Financial and credit activity problems of theory and practice · doi:10.55643/fcaptp.4.69.2026.5278 · Cited by 1 · see citing works
Machine Learning-Based Risk Management of Credit Sales in Small and Midsize Business
Dr. Rojalin Pani, D. M. R., & Mishra, K. S. K. N. (2024) · Journal of Informatics Education and Research · doi:10.52783/jier.v4i1.583 · Cited by 1 · see citing works
Garg, A. (2024) · International Conference on Sustainable Computing and Integrated Communication in Changing Landscape of AI (ICSCAI) · doi:10.1109/icscai61790.2024.10867231 · Cited by 1 · see citing works
(2024) · International Research Journal of Modernization in Engineering Technology and Science · doi:10.56726/irjmets49100
Gender Discrepancies in Creditworthiness: Evidence from Alternative Credit DataPreprint
Liu, Z., & Liang, H. (2024) · SSRN Electronic Journal · doi:10.2139/ssrn.4897497
Explainable Machine Learning Models Assessing Lending Risk
Nassiri, K., & Akhloufi, M. A. (2024) · Lecture notes in networks and systems · doi:10.1007/978-3-031-67434-1_49
Assessing the Impact of Artificial Intelligence on the Investment Decisions of Working Women
S, D. K., & Kalpana, G. (2024) · International Conference on Distributed Systems, Computer Networks and Cybersecurity (ICDSCNC) · doi:10.1109/icdscnc62492.2024.10939485
Fuzzy Non-Payment Risk Management Rooted in Optimized Household Consumption Units
Llanes, G. I., & Salcedo, A. M. (2025) · Risks · doi:10.3390/risks13040074
The Impact of Using Artificial Intelligence Applications on Reducing the Default Risk in MSMEs
Al-Afifi, A. A. M. (2025) · EuroMid Journal of Business and Tech-innovation (EJBTI) · doi:10.51325/ejbti.v5i2.211
Gooty, C. S. R., & Umashankar, N. (2025) · International Conference on Data Science, Agents & Artificial Intelligence (ICDSAAI) · doi:10.1109/icdsaai65575.2025.11011880
Gonaygunta, H., Maturi, M. H., Yadulla, A. R., Ravindran, R. K., Cruz, E. D. L., Nadella, G. S., & Meduri, K. (2025) · Systems and Information Engineering Design Symposium · doi:10.1109/sieds65500.2025.11021190
Use of Artificial Intelligence in Interdisciplinary Risk Management in Road Transport
Tubis, A. A., & Čižiūnienė, K. (2025) · Ecoproduction · doi:10.1007/978-3-031-88918-9_2
Secure Multi-Party Computation for AI-Driven Financial Risk Analytics
Pattabhi, A. (2023) · International Journal of Emerging Research in Engineering and Technology · doi:10.63282/3050-922x.ijeret-v4i2p108
Transforming Financial Management with AI: Automated Approaches to Risk and Investment
Ganesh, C., & Kafila (2024) · International Conference on Advances in Computing, Communication and Materials (ICACCM) · doi:10.1109/icaccm61117.2024.11059144
Hasan, M. F., Bhusari, V. S., Goranta, L. R., Dharmaraj, A., Kumar, S., & Dhanraj, J. A. (2024) · International Conference on Advances in Computing, Communication and Materials (ICACCM) · doi:10.1109/icaccm61117.2024.11059061
Best Practices: Wealth-Management mit Künstlicher Intelligenz transformieren
Hauf, P., Künzle, C., & Sigg, A. (2025) · FOM-Edition · doi:10.1007/978-3-658-46235-2_14
Artificial Intelligence Landscape in the European Union. A Comparative Study
Stan, M., Ciobotea, M., Vodă, A.-M., & Badea, D. L. (2025) · Proceedings of the ... International Conference on Business Excellence · doi:10.2478/picbe-2025-0262
- Authors
- Fritz-Morgenthal, S., Hein, B., & Papenbrock, J.
- Affiliations
- Ernst & Young (United States) (US)
- Corresponding author
- Papenbrock, Jochen
- ORCID
- Papenbrock, Jochen
- Venue
- Frontiers in Artificial Intelligence
- Publisher
- Frontiers Media SA
- Published
- 2022-02-28
- Volume
- 5
- Pages
- 779799-779799
- ISSN
- 2624-8212 (ISSN-L)
- PMC
- PMC8919207
- OpenAlex
- W4225496733
- Cited by
- 147
- References
- 14
- Citations by year
- 2026: 47 · 2025: 40 · 2024: 43 · 2023: 11 · 2022: 5 · 2021: 1
- FWCI
- 8.14
- Type
- journal article
- Language
- en
- Open access
- gold
- doi.org
- Licence
- Locations
- Frontiers in Artificial Intelligence (publishedVersion, cc-by)
- SSRN Electronic Journal (acceptedVersion)
- PubMed Central (publishedVersion, cc-by)
- PubMed (publishedVersion)
- DOAJ (DOAJ: Directory of Open Access Journals) (submittedVersion, cc-by-sa)
- Funders
- European Commission (HORIZON2020, ICT-35-2018, 825215)
- Topics
- Physical Sciences › Computer Science › Artificial Intelligence › Explainable Artificial Intelligence (XAI)
- Social Sciences › Safety Research › Ethics and Social Impacts of AI
- Social Sciences › Law › Digitalization, Law, and Regulation
- Keywords
- model risk management, explainable AI, trustworthy AI, responsible AI, AI governance, financial risk management, credit risk, insurance risk, anti-money laundering, fraud detection, transaction monitoring, derivative pricing, IFRS 9, EU AI Act, regulatory requirements, auditable AI, machine learning in production
About these checks
Registry, retraction, Cites and statistics results are computed, not judged, with one exception: a printed reference that no index lists is read once by a model before it counts as a citation error. Claims are extracted by a model and kept only when their quote appears verbatim in the text; each cited source is then checked, with a model’s help, for whether it says what the claim relies on. Those verdicts can be wrong — read the claim’s quote and the cited source before relying on one.
Statistics and arithmetic are recomputed, not judged.
Confidence bands are shown only for fields calibrated on our annotated test set. None is calibrated yet, so no band is shown.
What counts as a claim ›How we measure confidence ›How we check this ›
Are you an author, or do you see a problem with this page? Request a review
