October 13, 2015
Machine learning is a type of artificial intelligence that provides computers with the ability to learn without being explicitly programmed. The science behind machine learning is interesting and application-oriented. Many startups have disrupted the FinTech ecosystem with machine learning as their key technology.
There are various applications of machine learning used by the FinTech companies falling under different subcategories. Let us look at some of the applications of machine learning and companies using such applications.
1. Predictive Analysis for Credit Scores and Bad Loans
Companies in the lending Industry are using machine learning for predicting bad loans and for building credit risk models.