APAC CIOOutlook

Advertise

with us

  • Technologies
      • Artificial Intelligence
      • Big Data
      • Blockchain
      • Cloud
      • Digital Transformation
      • Internet of Things
      • Low Code No Code
      • MarTech
      • Mobile Application
      • Security
      • Software Testing
      • Wireless
  • Industries
      • E-Commerce
      • Education
      • Logistics
      • Retail
      • Supply Chain
      • Travel and Hospitality
  • Platforms
      • Microsoft
      • Salesforce
      • SAP
  • Solutions
      • Business Intelligence
      • Cognitive
      • Contact Center
      • CRM
      • Cyber Security
      • Data Center
      • Gamification
      • Procurement
      • Smart City
      • Workflow
  • Home
  • CXO Insights
  • CIO Views
  • Vendors
  • News
  • Conferences
  • Whitepapers
  • Newsletter
  • Awards
Apac
  • Artificial Intelligence

    Big Data

    Blockchain

    Cloud

    Digital Transformation

    Internet of Things

    Low Code No Code

    MarTech

    Mobile Application

    Security

    Software Testing

    Wireless

  • E-Commerce

    Education

    Logistics

    Retail

    Supply Chain

    Travel and Hospitality

  • Microsoft

    Salesforce

    SAP

  • Business Intelligence

    Cognitive

    Contact Center

    CRM

    Cyber Security

    Data Center

    Gamification

    Procurement

    Smart City

    Workflow

Menu
    • Cyber Security
    • Hotel Management
    • Workflow
    • E-Commerce
    • Business Intelligence
    • MORE
    #

    Apac CIOOutlook Weekly Brief

    ×

    Be first to read the latest tech news, Industry Leader's Insights, and CIO interviews of medium and large enterprises exclusively from Apac CIOOutlook

    Subscribe

    loading

    THANK YOU FOR SUBSCRIBING

    The Contributions of AI and ML to the Fintech Industry

    The need for safer, better, and customized solutions is rising with the expectations of customers. Automation has enabled the fintech industry to provide better customer service and experience.  

    The Contributions of AI and ML to the Fintech Industry

    By

    Apac CIOOutlook | Monday, November 02, 2020

    Stay ahead of the industry with exclusive feature stories on the top companies, expert insights and the latest news delivered straight to your inbox. Subscribe today.

    The need for safer, better, and customized solutions is rising with the expectations of customers. Automation has enabled the fintech industry to provide better customer service and experience.

    Fremont, CA: Financial technology or fintech is still a new thing for the modern world. It utilizes technology to improve the finance industry. Bleeding edge technology like machine learning and artificial intelligence are disrupting various industries worldwide, including fintech. AI and ML together are evolving the finance market with their abilities to increase process efficiency, improve customer engagement, and more.

    Let us look at the uses of AI and ML in fintech:

    Automating Customer Support

    The need for safer, better, and customized solutions is rising with the expectations of customers. Automation has enabled the fintech industry to provide better customer service and experience.

    Customer-centric systems such as chatbots and AI interfaces can provide useful advice while decreasing the cost of recruiting. Furthermore, AI can automate several processes at the back office and make it seamless.

    Automating processes can help fintech firms save time and money. Utilizing ML and AI, the industry can reduce human errors and improve customer support.

    Appropriate Decision-making

    Insurance, finance, and banking firms can utilize AI tools to make insightful decisions. Thus, the management can make data-driven decisions, propelling their businesses forward.

    Machine learning can help in effectively analyzing the data and bringing desirable outcomes that enable officials to cut costs. Also, it allowed organizations to solve specific problems with efficiency.

    Preventing Fraud

    Technologies are primarily used for improving speed and delivering convenience. But, apart from these benefits, online fraud has increased. Hence, financial institutions and fintech companies are investing in AI and ML to prevent fraudulent transactions.

    AI and ML solutions can respond in real-time and can assess more data quickly. Thus, organizations can recognize fraudulent processes and efficiently identify patterns utilizing different models of machine learning.

    More in News

    Enhancing Customer Satisfaction through Omni-Channel Payments

    Enhancing Customer Satisfaction through Omni-Channel Payments

    AI's Role in Apac's Digital Transformation Journey

    AI's Role in Apac's Digital Transformation Journey

    Influence of AI on Supply Chain Management

    Influence of AI on Supply Chain Management

    Role of Blockchain in Fostering a Trust-Based Economy

    Role of Blockchain in Fostering a Trust-Based Economy

    I agree We use cookies on this website to enhance your user experience. By clicking any link on this page you are giving your consent for us to set cookies. More info

    Copyright © 2025 APAC CIOOutlook. All rights reserved. Registration on or use of this site constitutes acceptance of our Terms of Use and Privacy and Anti Spam Policy 

    Home |  CXO Insights |   Whitepapers |   Subscribe |   Conferences |   Sitemaps |   About us |   Advertise with us |   Editorial Policy |   Feedback Policy |  

    follow on linkedinfollow on twitter follow on rss
    This content is copyright protected

    However, if you would like to share the information in this article, you may use the link below:

    https://www.apacciooutlook.com/news/the-contributions-of-ai-and-ml-to-the-fintech-industry-nwid-7798.html