- Published on April 17, 2020
- In AI Startups
This Bangalore-Based Fintech Startup Is Using AI To Enhance Fraud Detection & Cybersecurity
- By Ambika Choudhury
Fintech ventures heavily depend on machine learning (ML), artificial intelligence (AI), data science, and predictive analytics to assist in decision-making and problem-solving processes. Robo advisers, fraud detection, risk analysis, and customer retention and acquisition are a few examples of how data science and ML are applied to fintech companies to amplify and upgrade their offerings.
From facial recognition to voice-enabled payments, AI and ML have the potential to take fintech to the next level. According to reports, the AI in fintech market size is expected to grow from $959.3 million in 2016 to $7,305.6 million by 2022, at a Compound Annual Growth Rate (CAGR) of 40.4%.
However, there has been an issue of unaddressed payment challenges for businesses, in both bulk payments and
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Ambika Choudhury
A Technical Journalist who loves writing about Machine Learning and Artificial Intelligence. A lover of music, writing and learning something out of the box.
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