Finding a faster and more accurate way to assess traditionally underserved borrowers without bias in the credit decision making process can be a challenging task.
Personalized Banking
Cutomers want more personal financial advice to achieve their financial goals. Reducing call centers workload with voice-controlled virtual assitants becomes more important.
Fraud Detection
Battling financial fraud and catching up with criminals is no easy task, especially credit card fraud. AI can analyse clients’ behavior, location, and buying habits that are typical for fraud.
Errors in trading
No where is the saying “time is money” truer than in trading. Slow processings results in slower decisions and lower transactions that produce cost pressure.
Facts
AI applications will be the future of Financial Services – transforming the way we interact with money, from credit decisions to risk management and trading.
5 Million Investment
45% of AI frontrunner firms are investing over $5M in AI initiatives today, 3X the level of late adopters. - Forbes
30% Top
The top 30% of financial services firms who are frontrunners are more adept at integrating AI into the core strategic business of their firms, delivering revenue and cost gains quicker than competitors. - Forbes
19% Revenue Growth
Frontrunner financial services firms are achieving companywide revenue growth of 19% directly attributable to their AI initiatives. - Forbes