Technology provides a lending hand to the banking industry

  • “However, our research found that only three per cent of financial services firms are harnessing the potential of their unstructured data. Unstructured data includes data stored as audio, video and email files, and it accounts for around 80 per cent of the data that financial services firms hold.
  • Analysing unstructured data with ML could help banks uncover important patterns in customer liaison and react to potential problems proactively. For example, it can indicate that a customer may be on the brink of switching their current account, or identify when a customer may be about to default on debt payments.”

https://www.fintechmagazine.com/technology-and-ai-2/technology-provides-lending-hand-banking-industry

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