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Financial institutions are constantly evolving their businesses due to the competitive environment and changing customer expectations. To meet these challenges, Artificial Intelligence (AI) and Machine Learning (ML) technologies are being used to reshape the lending landscape. AI and ML technologies are used to process multiple data variables collected through digital footprints, documents, and other sources. These technologies enable rapid analysis of extensive borrower data, expediting credit decisions with higher accuracy levels. AI and ML-powered technology solutions also provide capabilities such as automated credit assessment and streamlining borrower evaluation.
