Top AI Companies That Help Finance Companies To Upgrade
Artificial Intelligence (AI) in finance is switching the traditional mode of operations into automation. AI, along with Machine Learning (ML), Deep Learning (DL), and Natural Language Processing (NLP) is stretching arms across the financial industry.
Artificial intelligence in finance and banking offers many benefits to service providers. AI solutions for finance ensures affordable financial decisions at the right time. They also reduce the risk of fraudulent acts.
It is a primary reason why finance, insurance, and banking firms have deployed AI in their processes recently. So, rustic banking or finance service are becoming more modern with AI.
In this article, we tried to give detailed information on significant applications of AI for finance. Let’s start!
Uses of AI in Financial Services
Banking and finance is a domain where hackers try to get confidential clients’ data and hack credit systems. Artificial intelligence companies are developing the most advanced AI-enabled financial solutions that protect a banking domain from hackers.
The applications of artificial intelligence in banking and financial services have great potential. They deal with risk management, asset management, customer support, and many more. Likewise, there are many more benefits of using AI in finance.
Moreover, with predictive analytics, AI-based finance services also spot longer-term trends. Thus, AI for finance helps bankers run businesses with higher productivity and efficiency.
USM has a bag full of specific AI applications for finance and banking companies. Our AI-powered finance services and solutions keep your business forefront of the market. To know more about what kind of use cases of AI for finance we provide to clients.
Here are the few significant applications of AI for finance.
- CREDIT DECISIONS
AI in financial services is a game-changer now. In particular, it detects irregular patterns and prevents unknown to attempt illegal acts.
The application of credit decision also comes under this genre. AI in finance helps credit lenders make smarter decisions while disbursing loans to borrowers. Credit lenders using AI can easily get to know the borrower’s repayment ability by surfing their credit score securely.
Here are few AI companies which are supporting the financial industry by delivering next-level AI solutions for finance.
#1 ZESTFINANCE
Location: Los Angeles, United States
How it is utilized AI for credit lending?
ZestFinance’s Zest Automated Machine Learning (ZAML) AI software makes mortgage lending more safe and secure. ZAML is an AI-enabled finance solution that helps lenders to evaluate borrowers’ credit scores and financial data. So, this AI-powered tool for finance prevents credit risks and generates the best loan recovery rates for financers.
#2 DATAROBOT
Location: Boston, United States
What this AI company has developed for finance?
DataRobot’s AI solution for finance helps financing companies know credit card frauds, illegal transactions, and many more. Using the power of ML, AI solutions can deliver precise predictive models. Such models help financers make decisions into fraudulent acts.
USM has a proven track record of delivering similar AI-driven apps for finance and banking service providers. Let’s talk to our AI expert about getting your app into reality.
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#3 SCIENAPTIC SYSTEMS
Location: NYC, United States
How it is utilizing Artificial Intelligence in finance?
Scienaptic Systems’ AI platform provides clear information to credit organizations and banks. The company has over 100 million customers till yet. It can connect both structured and unorganized data, process it, and provides intelligence to service providers.
#4 UNDERWRITE.AI
Location: Boston, United States
How it is utilizing Artificial Intelligence in finance?
Underwrite.ai studies the ample number of data points from credit agency sources to evaluate credit risk. Likewise, it helps service providers to know the repayment capability of borrowers.
Using ML models, the software extracts patterns and decides the loan payment capability of applicants. Such an intelligent process reduces human errors and accurately identifies the proper candidates to disburse credit.
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- MANAGING RISK
The finance industry is becoming more inclined towards ML methods. ML technology helps financial advisers to utilize more accurate data and identify patterns in their customer’s search. Hence, the possible risks will be predicted by the AI software before they damage credit data.
The following Artificial intelligence companies are helping the financial and banking firms to control the risk.
#1 KENSHO
Location: Cambridge, Massachusetts, United States
How it’s utilizing Artificial Intelligence in finance?
Kensho offers AI and data analytics solutions to financial firms. The software provides analytical solutions by integrating NLP and cloud computing technologies. The intelligent systems that use Kensho’s software deliver accurate predictions to the upcoming risks in a simple English language.
We do have similar AI-enabled mobility solutions for banking and financial companies. Our multi-purpose insurance applications deliver more personalized services to banking customers.
#2 AYASDI
Location: Menlo Park, California, United States
How Ayasdi utilizing AI technology for finance?
To deal with financial challenges, Ayasdi has developed cloud-based and intelligent smart solutions. This AI Company helps realize and handle risks and predict the actual customer needs in this evolving fintech space.
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- QUANTITATIVE TRADING
Quantitative trading is a process of organizing vast data to extract regular patterns for making qualitative trades. AI systems analyze complex data in a matter of minutes ad derive patterns. So, the adoption of AI in financial services automates trading and saves a lot of time for the workforce.
The below listed are few enterprises that use AI technology to deliver smart applications for finance.
#1 ALPHASENSE
Location: NYC, United States
How it uses Artificial Intelligence in finance?
Alphasense is an AI-driven search engine used by banking and financial firms. It uses NLP to study keyword searches and provide insights and valuable data to users with high speed.
#2 KAVOUT
Location: Bellevue, Washington, United States.
How it’s utilizing Artificial Intelligence in finance?
Artificial intelligence in banking and finance is a focal stream of Kavout. The company uses quantitative analysis and ML models to handle large data and analyze them to provide insights.
Kavout’s AI-enabled stock ranker examines massive data sets like cost patterns and SEC filings. Later, it summarizes the data into rank for stocks. The more the KAI Score, the excellent the stocks will perform in the financial market.
USM is one of the biggest artificial intelligence companies. We have decades of experience in using AI for developing the next-level solutions for finance and banking companies. Our AI solutions for finance ensure high-security while automating the entire process. Check out our AI investment mobile app now.
#3 ALPACA
Location: San Mateo, California, United States
How it’s utilizing Artificial Intelligence in finance?
Artificial intelligence in banking using deep learning gives tremendous results. Alpaca integrates deep learning technology and data storage to offer predictive AI applications for finance. It finds price variations of a product in the market and forecasts the growth in the future.
- PERSONALIZED BANKING
#Artificial Intelligence in banking
In this digital era, everything needs to be faster and smoother. You need not wait in a queue for taking a bank statement or cash transfers. Intelligent technology has brought everything to your fingertips.
AI in banking is a buzzword and enlighten the ways of traditional banking services. It is estimated that over 75% of banking customers are using tools for managing their accounts. Moreover, unlike direct meeting financial advisers, 41% of clients are opting for digital advisers.
AI chatbots are the best examples of personal assistants. While interacting with clients like bankers, they advise customers. Thus, Artificial Intelligent virtual assistants and chatbots in banking provide personalized financial services.
USM is delivering corporate banking mobility solutions. Our user-friendly banking mobile apps successfully launched on global banks and witnessed the fruitful performance.
USM’s AI-driven banking apps!
The below are a few AI companies that help finance and banking customers offer personalized banking services to their customers.
#1 KASISTO
Location: NYC, United States
How the company is utilizing AI in finance?
Kasisto helps banks and financial institutions to reduce call center tasks. Its AI platform helps and responds to the client’s query 24*7. Thus, this kind of solution improves customer experiences and achieves user satisfaction.
#2 ABE AI
Location: Orlando, Florida, United States.
How it uses AI technology in finance?
Abe AI developed an AI-driven banking virtual assistant. It enables banks and financial firms to provide an enhanced version of customer care service. This banking assistant supports Facebook, SMS, Amazon Alexa, and Google Home, mobile to offer customers more comfortable and convenient banking services.
#3 TRIM
Location: San Francisco, United States
How is using AI technology in finance?
Trim is an AI-enabled virtual assistant. It connects user-profiles and gives them a brief on their spending.
This innovative finance app helps account holders save money and put their investments in FDS for enjoying ROI. This AI-powered personal assistant advises you to stop all your money-wasting subscriptions and lets you save your valuable money.
USM’s AI-based investment mobile app gives customers insights into their investments. Let’s talk deep about this Artificial intelligence banking project.
- AI for FRAUD DETECTION
A large number of digital transactions are taking place every day. Customers pay their bills, make transactions, and invests in stocks digitally. So, here AI prevents fraudulent acts in the banking and finance industry.
Here are leading AI companies that offer AI-powered security solutions for banking and financial firms.
#1 SHAPE SECURITY
Location: Mountain View, California, United States
How is it using the artificial intelligence platform in finance?
Shape Security software detects breaches instantly. Its AI-powered bots by asking security questions allow users to open their accounts securely with proper credentials. It can identify fraud entries, credential stuffing for providing added safety to customers’ accounts.
#2 DARKTRACE
Location: Cambridge, Massachusetts, United States
How DarkTrace company utilized AI in finance?
For many industries and financial institutions, Darktrace builds cybersecurity solutions. Using ML models, its solutions analyze the network data and find out unexpected risks before the entire network systems got damaged.
Conclusion
Finally, AI in finance and AI in banking help banks protect accounts from hacks. This advanced AI technology in banking prevents credential stuffing by hackers. If you want to know more about AI-powered finance solutions, contact us now.
“Invest in artificial intelligence today and make your banking or finance more interactive with customers in a secure way.”
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