Does digital transformation matter for operational risk exposure?
基于43个国家264家银行10年数据，研究发现数字化银行运营通过增加业务量成为操作风险的潜在驱动因素，银行主动增加网络安全支出以应对金融科技竞争，但网络安全威胁本身并未显著增加操作风险。
Basel Committee recommends banks maintain a capital buffer for operational risk exposure based on business volumes, assuming aggressive actions for quicker business growth could increase risk exposures. We argue that technological innovations expose banks to more operational risk because technology helps increase business volume, but system failure, problems with internal processes, and disruptions from external and internal security threats are inherent to technology. Based on 10 years of data for 264 banks from 43 countries, we find that digitalized banking operation is an underlying driver of operational risk that comes with increased business volume. Banks proactively take more operational risks by increasing cyber spending to tackle FinTech competition in the digitalized economy. Digitalization could generally matter for operational risk exposure, but the natural experiment does not find cybersecurity threats per se could increase operational risks even though cybersecurity appears to be a serious threat to digital banking. The study creates new avenues for future research.