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Why Data Science in Banking Matters

Data science in banking enables smarter decisions, personalized services, fraud detection, and efficient risk management. It transforms raw data into insights, driving innovation, improving customer experience, reducing costs, and ensuring complianceu2014essential for success in todayu2019s fast-evolving financial landscape.

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Why Data Science in Banking Matters

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  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. Managing Risks with Data Science Fraud Detection Loan Default Prediction Market Risk Forecasting www.iabac.org

  4. Driving Innovation and Services 01 02 03 AI Advisors Predictive Analytics Smart Tools Anticipate customer needs by analyzing behavior and transaction history to offer timely, relevant products and services. Enable automated budgeting, spending analysis, and savings recommendations to help customers manage their finances effortlessly. Provide accessible, real- time financial guidance using AI-powered virtual assistants—making expert advice available to all customers. www.iabac.org

  5. Ensuring Regulatory Compliance Automated Reports Generate fast, accurate compliance reports, reducing manual effort and ensuring regulatory accuracy. Real-Time Monitoring Continuously scan transactions to detect and prevent money laundering and other suspicious activities. Audit Ready Maintain transparent, well-organized digital records to simplify audits and regulatory inspections. www.iabac.org

  6. Improving Credit Scoring 01 02 03 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

  10. Thank you www.iabac.org

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