AI IN BANKING AND FINANCE
Danske Bank, Denmark’s largest bank, implemented a fraud detection algorithm to replace its old rules-based fraud detection system. This deep learning tool increased the bank’s fraud detection capability by 50% and reduced false positives by 60%.
Similarly, with the help of AI, we help the financial industry streamline and optimize operations ranging from credit decisions to quantitative trading and financial risk management.
We have in-depth experience in building bespoke AI and custom based machine learning applications.
Some use cases are:
Analytics for Credit Scoring
AI credit scoring decisions are based on a lot of data. As a result, credit scoring using AI gives more perceptive, individualized credit score reviews based on a collection of additional real-time facets, providing access to finance to more people with income potential.
AI ENHANCED SECURITY
AI-enhanced security measures help prevent fraud as they facilitate bank systems to flag skeptical trades before they are conducted quickly. Using ML algorithms, we negate application and trade fraud in real-time.
MINIMIZING OPERATIONAL COSTS
According to Accenture, AI can help banks to reduce costs by up to 25%. AI in banking eliminates the errors that are associated with human manual processes like paperwork and data entry. AI tools gather data, classify, and action it without any human intervention.
How Can we level up your business?
We have in-depth experience in building bespoke AI and custom based machine learning applications. Some use cases are:
Want to use AI in your Fintech projects but don’t know where to start? Explain your project vision and get a detailed estimate from our AI consultants.
Need a robust artificial intelligence fintech solution with a focus on quality and top industry trends? Get help from us. We’ve got excellent tech skills and industry-related experience to make your project a success.
Get authentic insights that will move your business forward with our custom software built according to your requirements. Use analytical insights to generate better customer experience.
HOW CAN AI HELP YOUR BUSINESS?
AI in BFSI empowers you to minimize risk, deliver superior customer experiences and accelerate innovation.
Document Process Automation
Document capture, storage and extraction towards enhancing your efficiency.
Investment Analysis and Management
Get analytical insights for risk scoring and wise investment.
Combat Threat and Fraud
Modernize your data infrastructure and analytics capabilities to better protect from cyber threats.
Real Time Decisions
Keep up with the ever-changing conditions with AI-optimized business ability to do real-time analytics that drive and democratize smarter financial decisions.