Why Data Science in Banking Matters | IABAC
- 1. Why Data Science in Banking Matters www.iabac.org
- 2. What Is Data Science in Banking? Key Points: 1.Uses data analysis and algorithms 2.Turns raw data into insights 3.Improves banking operations www.iabac.org
- 3. Fraud Detection Loan Default Prediction Market Risk Forecasting Managing Risks with Data Science www.iabac.org
- 4. 01 02 03 Driving Innovation and Services Predictive Analytics AI Advisors Smart Tools Anticipate customer needs by analyzing behavior and transaction history to offer timely, relevant products and services. Provide accessible, real- time financial guidance using AI-powered virtual assistants—making expert advice available to all customers. Enable automated budgeting, spending analysis, and savings recommendations to help customers manage their finances effortlessly. www.iabac.org
- 5. Ensuring Regulatory Compliance Automated Reports Real-Time Monitoring Audit Ready Generate fast, accurate compliance reports, reducing manual effort and ensuring regulatory accuracy. Continuously scan transactions to detect and prevent money laundering and other suspicious activities. Maintain transparent, well-organized digital records to simplify audits and regulatory inspections. www.iabac.org
- 6. 01 02 03 Improving Credit Scoring Use of Alternative Data Machine Learning Models Inclusive Lending Leverage data like utility payments, rental history, and social behavior to assess creditworthiness beyond traditional scores. Continuously learn from new data to provide more accurate and dynamic credit scoring. Expand credit access to underserved individuals without conventional credit histories, promoting financial inclusion. www.iabac.org
- 7. Reducing Costs & Increasing Efficiency 1.Faster Loan Processing 2.Reduced Manual Fraud Checks 3.Smarter Customer Support with AI www.iabac.org
- 8. Strengthening Cybersecurity Security Measures: Threat Detection Algorithms Predictive Security Strategies Real-Time Fraud Blocking www.iabac.org
- 9. Future of Data Science in Banking AI & Machine Learning: Increased automation Blockchain: Secure and transparent systems Hyper-Personalization: Better customer alignment Certification: Get IABAC certified to lead in finance and analytics www.iabac.org