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Machine Learning Solutions Rapidly Evolving in the Banking Industry
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Machine Learning Solutions Rapidly Evolving in the Banking Industry

Machine Learning Solutions Rapidly Evolving in the Banking Industry

Fintech Nexus Staff·
FintechNews Roundup
·Feb. 16, 2017·1 min read

CNBC profiles three companies emerging in the banking industry with solutions built from machine learning technology; Digit has created a solution that integrates with a user’s bank account to automate savings based on account balances and spending patterns; Zest Finance is offering credit scoring technology based on AI algorithms using alternative credit data; Adyen is also using machine learning for fraud prevention; overall machine learning solutions are evolving rapidly and speculators believe they will revolutionize the workforce; Goldman Sachs says machine learning and AI will enable $34 billion to $43 billion in annual cost savings and new revenue opportunities for the financial sector by 2025; it’s also expected that AI and machine learning will begin to replace jobs that can be easily automated while also creating greater opportunities for software developers and data scientists.  Source

  • Fintech Nexus Staff
    Fintech Nexus Staff

    This piece was created by one of our content team members. Reach us at [email protected]

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