How does Machine Learning work in finance automation

Discover the DZone article - why automating financial services is quite different and challenging from other business domains due to a high level of caution, concerns and risks: How Does Machine Learning Work in Finance Automation?

Here are some highlights of finance ML automation benefits:

Increased operational efficiency of the system
Speedy approvals
Reduced manual errors
Reduced risks and frauds

For example, at ENFINT we develop and implement ML models for financial credit risk management. To meet global regulatory requirements, banks need to develop different models: probability of default (PD), loss given default (LGD) and macroeconomic adjustment. These models are designed to achieve IFRS9-compliant expected credit loss calculation. Learn more about our innovative solutions for finance and banking.