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.