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Risk Management Strategies in Blockchain Adoption within Financial Institutions Analyzing Challenges and Opportunities

APTISI Transactions on Management (ATM) · Vol. 9 No. 1 (2025) · pp. 20–29

DOI
10.33050/atm.v9i1.2393
ISSN
2622-6804, 2622-6812
Published
2025-01-29
Publisher
Pandawan
Language
en
License
creativecommons.org/licenses/by-sa/4.0

Abstract

The integration of blockchain technology in financial institutions has introduced both groundbreaking opportunities and significant risks, necessitating a comprehensive approach to risk management. Blockchain’s potential to enhance transparency, security, and efficiency in financial processes makes it an attractive technology for financial institutions. However, issues like regulatory uncertainty, data privacy, and technological readiness present unique challenges. This study aims to identify, evaluate, and provide insights into the primary risks associated with blockchain implementation in financial institutions, focusing on both challenges and opportunities to aid in effective risk management. Using the Structural Equation Modeling (SEM) technique with Partial Least Squares (PLS), also known as SmartPLS, this study examines data collected from financial industry stakeholders, including risk managers and IT experts. Variables assessed include data security, regulatory compliance, and technological infrastructure, allowing for a nuanced understanding of the risk dynamics within blockchain adoption. The analysis reveals that data security risks and regulatory concerns significantly impact blockchain implementation success, while technological readiness serves as a moderating factor, influencing the ease of adoption and operational success. Findings underscore the need for a balanced approach to blockchain integration in financial services, where risk management strategies address both regulatory and technological challenges. By identifying these core risks and their implications, this study contributes to the body of knowledge on blockchain risk management and offers practical recommendations for financial institutions aiming to adopt blockchain effectively while minimizing associated risks.

Keywords

Collaboration network of the authors

29 authors · 72 co-authorship links

Hover or tap a name to highlight its co-authors. Double-click to open the author's page.

  • Universitas Raharja
  • Affiliation unknown
  • Different organisations
  • Same organisation
  • Affiliation unknown
  • Thicker line = more joint articles · bigger circle = more articles
Show as table
Co-authorOrganisationJoint articles
Nazhif GifariAffiliation unknown3
Erry Yudhya MulyaniAffiliation unknown2
Mury KuswariAffiliation unknown2
Indah Dwi PermatasariAffiliation unknown2
Fitra Putri OgandaUniversitas Raharja1
Fadhila AzzahraAffiliation unknown1
Sausan Raihana Putri JunaediAffiliation unknown1
Amelia EvansAffiliation unknown1
Muchlisina MadaniAffiliation unknown1
Ridhuan AhsanitaqwimAffiliation unknown1
Ahmad RamadanAffiliation unknown1
Achani Rahmania Az ZahraAffiliation unknown1
Jerry MaratisAffiliation unknown1
Umi RusilowatiAffiliation unknown1
Cicilia Sriliasta BangunAffiliation unknown1
Siti ChoirunnisaAffiliation unknown1
Tiurma Heryawanti PakpahanAffiliation unknown1
Septia RosdyaningrumAffiliation unknown1
Annisa KhaeraniAffiliation unknown1
Vitria MelaniAffiliation unknown1
Rachmanida NuzrinaAffiliation unknown1
Sarah MardiyahAffiliation unknown1
Parlin DwiyanaAffiliation unknown1
Dipo WicaksonoAffiliation unknown1
FransiskaAffiliation unknown1

Affiliations come from OpenAlex; journal OAI-PMH metadata carries none. Authors without an OpenAlex ID are matched by name, which can merge or split people.

Metadata source: OAI-PMH (metadata jurnal) https://ijc.ilearning.co/ATM/oai, first harvested 6 Nov 2026, last seen 8 Nov 2026.
Original metadata (oai_dc) 
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	<dc:title xml:lang="en">Risk Management Strategies in Blockchain Adoption within Financial Institutions Analyzing Challenges and Opportunities</dc:title>
	<dc:creator xml:lang="en">Dewi, Susanti</dc:creator>
	<dc:creator xml:lang="en">Firasati, Aoliyah</dc:creator>
	<dc:creator xml:lang="en">Sitoayu, Laras</dc:creator>
	<dc:creator xml:lang="en">Bennet, Daniel</dc:creator>
	<dc:creator xml:lang="id">Bennet, Daniel</dc:creator>
	<dc:subject xml:lang="en">AI-Powered Automation</dc:subject>
	<dc:subject xml:lang="en">Operational Efficiency</dc:subject>
	<dc:subject xml:lang="en">Small and Medium Enterprises (SMEs)</dc:subject>
	<dc:description xml:lang="en">
The integration of blockchain technology in financial institutions has introduced both groundbreaking opportunities and significant risks, necessitating a comprehensive approach to risk management. Blockchain’s potential to enhance transparency, security, and efficiency in financial processes makes it an attractive technology for financial institutions. However, issues like regulatory uncertainty, data privacy, and technological readiness present unique challenges. This study aims to identify, evaluate, and provide insights into the primary risks associated with blockchain implementation in financial institutions, focusing on both challenges and opportunities to aid in effective risk management. Using the Structural Equation Modeling (SEM) technique with Partial Least Squares (PLS), also known as SmartPLS, this study examines data collected from financial industry stakeholders, including risk managers and IT experts. Variables assessed include data security, regulatory compliance, and technological infrastructure, allowing for a nuanced understanding of the risk dynamics within blockchain adoption. The analysis reveals that data security risks and regulatory concerns significantly impact blockchain implementation success, while technological readiness serves as a moderating factor, influencing the ease of adoption and operational success. Findings underscore the need for a balanced approach to blockchain integration in financial services, where risk management strategies address both regulatory and technological challenges. By identifying these core risks and their implications, this study contributes to the body of knowledge on blockchain risk management and offers practical recommendations for financial institutions aiming to adopt blockchain effectively while minimizing associated risks.
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	<dc:publisher xml:lang="en">Pandawan</dc:publisher>
	<dc:date>2025-01-29</dc:date>
	<dc:type>info:eu-repo/semantics/article</dc:type>
	<dc:type>info:eu-repo/semantics/publishedVersion</dc:type>
	<dc:format>application/pdf</dc:format>
	<dc:identifier>https://ijc.ilearning.co/ATM/article/view/2393</dc:identifier>
	<dc:identifier>10.33050/atm.v9i1.2393</dc:identifier>
	<dc:source xml:lang="en">APTISI Transactions on Management (ATM); Vol. 9 No. 1 (2025): January; 20-29</dc:source>
	<dc:source xml:lang="id">APTISI Transactions on Management (ATM); Vol 9 No 1 (2025): January; 20-29</dc:source>
	<dc:source>2622-6804</dc:source>
	<dc:source>2622-6812</dc:source>
	<dc:source>10.33050/atm.v9i1</dc:source>
	<dc:language>en</dc:language>
	<dc:relation>https://ijc.ilearning.co/ATM/article/view/2393/868</dc:relation>
	<dc:rights xml:lang="en">Copyright (c) 2025 Dini Hidayati, Aoliyah Firasati, Ramzi Zainum Ikhsan, Daniel Bennet (Authors)</dc:rights>
	<dc:rights xml:lang="en">http://creativecommons.org/licenses/by-sa/4.0</dc:rights>
</oai_dc:dc>