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GlobalData : Retail banks will increasingly use AI to help determine credit scores

Stock Market Quotes and Financial News

Artificial intelligence (AI) is anticipated to make a significant impact on the retail banking sector, such as using non-traditional data types to assign credit scores to potential borrowers, according to research and consulting firm GlobalData . Technologies such as machine learning, predictive analytics and natural language processing are already making their mark in banking, with both front-office and back-office operations set to be transformed.

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