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Will AI Developments Help Open Banking Take Off?

Smart Data Collective

Artificial intelligence has become a gamechanger in the banking industry in recent years. There are a number of reasons that AI is becoming an integral part of the banking industry. AI has made open banking possible. New advances in AI could help open banking become even more popular in the near future.

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5 Ways Your Retail Banks Can Use Data to Better Serve Digital Natives

Smart Data Collective

One of the sectors most impacted by big data has been banking. Big data is even more important to the banking sector as more of their services become digitalized. The market for analytics technology in the banking sector is projected to be worth over $5.4 Banks turn to Data Analytics as Demand for Digital Services Grows.

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Promising Benefits of AI in the Financial Technology Market

Smart Data Collective

Artificial intelligence (AI) is all the rage now. For example, banks now apply AI to assess credit risks with high accuracy. According to P&S Intelligence , AI in the fintech market is expected to grow to $47 billion in 2030 from $7.7 What is artificial intelligence? AI in fintech is here to stay.

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Is Machine Learning Changing Our Approach to Asset Management?

Smart Data Collective

Wealth and asset management has come a long way, evolving through the use of artificial intelligence, or AI solutions. Machine learning (ML) is a form of AI that is becoming more widely used in the market because of the rising number of AI vendors in the banking industry. The banking and financial industries are no different. .

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Data-Driven Companies Leverage OCR for Optimal Data Quality

Smart Data Collective

Optical character recognition is able to convert any text present on a medium into computer-readable textual data. These three steps are performed by OCR in about 3 to 5 seconds observing an ever higher accuracy thanks to machine learning and artificial intelligence than manual extraction. How does OCR work? More efficiency.

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Fintech App Development Discover the Benefits of Using AI

Smart Data Collective

Artificial intelligence is one of the most important trends pushing the envelope of what’s possible with fintech. When Fintech Meets Artificial Intelligence. Artificial intelligence is also adept at data processing and analytics, both useful tools for financial applications. Predictive Analytics.

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Massive Data-Driven Trends Impacting Small Business Lending

Smart Data Collective

For businesses to run many of them will have to rely on banks, and other lending agencies, to give them loans. As companies need bigger loans to cover the costs of technologically improved equipment, banks will have to find ways to include tech advancements when accessing a business for a loan.

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