Xen Finance360.AI is an Artificial Intelligence (AI), Machine Learning (ML) and Deep Learning based solution for financial services.
As data breaches become a more common occurrence, fraud has become a major problem for banks and credit card companies. With hundreds of millions of bank accounts and credit cards, trying to find instances of fraud manually is plainly impossible. The only way that financial companies have any hope of fighting fraud is to use machine learning algorithms to detect unusual transactions. By feeding the algorithm millions of data points about real and fraudulent activities, machine learning models can make better guesses about which transactions are most likely to be suspicious.
You’ve heard of Apple’s Siri and Amazon’s Alexa, but digital assistants are invading the world of financial services as well. Automated phone systems that rely on machine learning can help route callers to the right department within a company, providing good-quality customer service without the need for human employees. AI and machine learning techniques are used for speech recognition and natural language processing in order to understand what customers want and connect them with a human agent if necessary. For example, recurrent neural networks (RNNs) are used to parse the individual phonemes of a voice clip and assemble them into words.