AI For Banking & Investment
Not only are industry analysts focused on Gen AI as a critical industry movement, they are seeing it as driving all the other key sector trends in 2024, including upgraded systems that have degraded customer intimacy that once characterized the industry and outdated operational modes like Six Sigma, and legacy core systems.
Banking & Investment
Firms AI Trends
Personalized
Lending
Gen AI is increasingly impacting the ways banks determine risk and come to loan decisions. AI/ML banking solutions are instrumental in developing new, more accurate AI-based credit and loan systems, and opening up funding to underserved segments of the borrowing public. Applicants with limited or no credit histories can now be more accurately assessed for credit-worthiness, leading to safer lending. NextState AI, as a partner to the banking community, helps to better service customers by lowering lending risks with Gen AI.
Investment
Research
In addition to the obvious application of algorithmic trading, there are many other Gen AI. Sentiment analysis allows Gen AI to aggregate and analyze public moods and integrate that into investment strategies. Additionally, Gen AI can help investment firms optimize their portfolios, synthesizing and analyzing data to identify trends and patterns beyond the awareness of the typical human analyst. NextState can guide investment firms through all of their marketplace AI options.
Fraud
Prevention
Fraud in banking is often difficult to detect. Gen AI addresses that issue by easily processing large amounts of data to reveal instances of identity theft, phishing tactics, credit card fraud & theft, and forged documents throughout every banking process. Gen AI can be trained to identify irregularities in user purchases, habits, location, and tendencies. Using predictive analytics and anomaly detection, NextState AI can help deploy an AI fraud-prevention strategy across all banking channels, identifying and thwarting illegality that has plagued the industry for years.
Risk
Management
These days, Risk Managers have a vast array of new Gen AI tools to choose from. Whether it's products in hazard prediction, fraud prevention, or compliance monitoring, the choices can often seem endless. NextState AI is your partner in utilizing AI in the risk management process. Our experts will help you employ machine learning to develop new ways to detect fraud and determine credit-worthiness, while deep learning will identify meaningful market anomalies, more accurately predicting fluctuations, trends, and opportunities.
