Banking on AI: Fraud Detection, Credit Risk Analysis, and the Future of Financial Services
Unite.AI
MAY 27, 2024
In 2020, the financial world was rocked by a scandal involving Wirecard, a German payments processing company. AI, on the other hand, leverages machine learning (ML) algorithms that can analyze vast amounts of data, including transaction history, location, and device information, to identify anomalies and suspicious activity in real-time.
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