Abstract. Currently, significant changes are taking place in the banking sector related to the implementation of Big Data technology. This opens up new opportunities for risk management and increasing the efficiency of banking systems. This article discusses the application of Big Data technology in risk management in the banking sector, as well as describes the main advantages and challenges associated with this rocess. In addition, examples of successful implementation of Big Data in risk modeling, data analysis, and risk forecasting are provided.
Key words: Big Data, risk management, risk strategies, cybersecurity.