Consumers are looking for more than just banking and machine learning helps banks deliver that.
Machine learning contributes to areas such as credit decisions, risk management, personalized customer experiences, fraud detection, automation and much more.
This PDF will address the following points:
1. An overview of the banking sector and its importance in the economy
2. The top 5 banks in the US benefiting from the power of machine learning
3. The areas in banking where Machine Learning is applied
2. About Knoldus MachineX
MachineX is a group of data wizards.
KSAI MACHINEX BLOGS KNOLX
Machine learning
library in scala
Blogs on various machine learning and AI Technologies Knowledge sharing
Videos
4. Agenda
01 Introduction of machine
learning
02 Banking Sector
03 Top Banks and their use
cases of machine learning
04 Top Use cases of ML in
banking sector
05 Quick demo for fraud
detection
6. Banking Sector
● Industry that handles cash, credit, and
other financial transactions.
● Provide a safe place to store extra cash and
credit.
● Offer savings accounts, certificates of deposit,
and checking accounts.
● Provide loans.
● One of the key drivers of the economy.
● Companies use loans to start hiring immediately to build for future demand
and expansion.
9. Top 5 Banks and their use cases of ML
● Contract Intelligence or COiN (ML proprietary
algorithm)
JPMorgan Chase and their COiN:
10. Top 5 Banks and their use cases of ML
● Emerging Opportunities Engine
JPMorgan Chase and Emerging Opportunities Engine
11. Top 5 Banks and their use cases of ML
● Virtual chat assistant
JPMorgan Chase and Virtual chat assistant
12. Top 5 Banks and their use cases of ML
● AI Enterprise Solutions team
● AI-powered chatbot for the company’s Facebook
messenger
● This virtual assistant for resetting passwords
Wells Fargo and AI Enterprise Solutions team
13. Top 5 Banks and their use cases of ML
● Erica the virtual assistant
● AI assistant into their mobile banking solution
Bank of America
14. Top 5 Banks and their use cases of ML
● FeedzAI
Citibank
15. Top 5 Banks and their use cases of ML
● AI Innovation Leader
US-Bank