The so-called credit scoring system assesses a person’s creditworthiness and credit risks, based on numerical statistical methods. This technology is often used in fast lending for small amounts, when registering consumer express loans in real stores by credit companies, in the business of mobile operators or insurance companies. Scoring is the assignment of points by …
Category Archives:
Customer Data Management
Financial Institutions need data. As a matter of fact, big data has revolutionized the way in which financial institutions function. The volume and variety of data are contributed through social media and a large number of transactions. The data is present in two forms- Structured dataUnstructured dataWhile the structured data is easier to handle, it …
Customer Experience – Chatbots, Image Processing, Customer Onboarding, Customer Service Level improvement
Using an intelligent chatbot, customers can get all their queries resolved in terms of finding out their monthly trading, investment products, affordable insurance plan, and much more. Customer onboarding is the complete process that users go through when they act as clients of a bank or FinTech company. Onboarding experience can truly determine the customer’s …
Asset Valuation and Management
Asset management for digital assets or distributed industrial assets are applications where voluminous data about the assets is already being recorded, making them ripe for automation through AI. Benefits for the company Asset and wealth management firms are exploring the potential AI solutions for improving their investment decisions and making use of their troves of …
Fraud detection and Prevention
Financial organizations use it to monitor a considerable amount of transaction parameters at once for every account in real time. The algorithm examines historical payment data and analyses every account holder’s action. Fraud detection involves monitoring and analysis of the user activity to find any usual or malicious pattern. Such models can be highly prominent …
Risk Management
Credit risk is the economic loss that emanates from a counterparty’s failure to fulfill its contractual obligations, or from the increased risk of default during the term of the transaction. The increased complexity of assessing credit risk has opened the door to deep learning in finance. This is evident in the growing credit default swap …
Financial Monitoring
Machine learning algorithms can be used to enhance network security significantly. Data scientists are always working on training systems to detect flags such as money laundering techniques, which can be prevented by financial monitoring. The future holds a high possibility of machine learning technologies powering the most advanced cybersecurity networks. Benefits for the company In …
Sentiment Analysis
You can follow current market trends by scrolling news and publication all day long, hiring someone to do it for you or using sentiment analysis. This methodology analyzes text by sentences, distinguishing positive, negative, and neutral meanings. In trading, sentiment analysis tools analyze market sentiments and mentions of companies that are in an investor’s portfolio …
Financial Advisory
Robo-advisors work like the regular financial advisors. As a rule, they target investors who have limited resources and want to manage their funds, like small- and medium-sized businesses or individuals. AI-based robo-advisors create financial portfolios for their users and apply historic data processing, including risk assessment algorithms in some situations. These solutions cover the following …