THE PIVOTAL ROLE OF MACHINE LEARNING IN FINANCIAL FORECASTING FOR CONSUMER BANKS
Keywords:
Machine Learning, Financial Forecasting, Consumer Banking, Predictive Analytics, PersonalizationAbstract
In recent years, machine learning (ML) has emerged as a transformative technology in the financial sector, particularly in the realm of consumer banking. This article explores the pivotal role of ML in enhancing financial forecasting models, leading to improved customer service, risk management, and operational efficiency. We delve into five key areas where ML is making a significant impact: fraud detection, customer segmentation and personalization, predictive analytics for customer behavior, financial forecasting for strategic planning, and interest rate and pricing optimization.
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