PYMNTS Data Brief: 88 Pct Of FIs Turn To AI For Post-Pandemic Credit Decisioning

• “Credit risk decisioning is being called out as the biggest challenge facing banks and financial institutions (FIs) in a time of rebuilding. Banks and FIs have tripled their use of artificial intelligence (AI) in this area since 2018, and it’s ramping up more intensely now.
• As the Playbook notes, ‘A large majority of banks have turned to two main strategies to reduce their exposure to downside credit risk: automation and real-time data,’ with 71 percent of FIs increasing their use of decision-making automation and AI to mitigate risk since 2020.”

https://www.google.com/amp/s/www.pymnts.com/news/artificial-intelligence/2021/fis-turn-to-ai-for-post-pandemic-credit-decisioning/amp/