Information technology risk in banks poses significant challenges that require
effective management strategies. With the increasing reliance on digital platforms for banking operations, the exposure to cyber threats, data breaches, and system failures has become more pronounced.
Banks must implement robust cybersecurity measures, conduct regular risk assessments, and invest in technologies like encryption and intrusion detection systems to mitigate these risks. Additionally,
comprehensive training programs for staff and strict regulatory compliance are essential components of a holistic approach to managing IT risks in banking institutions.