A discussed in the previous post, the evolution of machine learning in FinTech, it is time to pin point prospective users to appropriate resources. As discussed before, the application of Machine Learning expands to –
- Predictive analysis for credit score and bad loans.
- Support accurate decision making.
- Information Extraction.
- Fraud Detection & Identity Management.
- Building Trading Algorithm
and many more…
However, for organizations planning to work in the above mentioned areas of expertise (and having no knowledge of how things are done), I feel it is a good idea to seek help (at least in terms of consulting) from businesses who are into this domain.
- Lending Club, Kabbage, LendUp specialize in Predictive analysis for credit scores and bad loans so according to me it is a great go to market option for lending organizations to seek their advice.
- Affirm, ZestFinance, Billguard are into users of data that support decision making. They all consume and analyze vast amounts of data.
- DataMinr, AlphaSense work to achieve real time information discovery and information de-fragmentation respectively.
- Feedzai, Bionym, BioCatch are in different industries but have common interests towards fraud management and they leverage it my natural language processing and machine learning.
- KFC Capital, Binatix are pure finance based firms and use state-of-the-art machine learning algorithms to support their trading algorithms.
Detailed List at – https://letstalkpayments.com/applications-of-machine-learning-in-fintech/