How machine learning can help finance companies AVADA-MEDIA
Machine learning technology is a type of artificial intelligence that allows computers to learn on their own, without predefined behavior scenarios. It is able to quickly process huge amounts of unstructured information, and then draw conclusions and predictions based on it.
The more data is provided to such a system for processing, the more accurate the final result will be. For this reason, Machine learning is increasingly used by financial companies whose job is to store terabytes of information about customers, their payments, credit histories, etc.
How can financial companies use ML for their own purposes? AVADA-MEDIA
Machine learning algorithms can be applied to virtually any company in the financial sector. Here are some of the popular real-world applications for them.
ML helps to identify the risks of providing loans to different borrowers. Even those who do not yet have a credit history. In such cases, predictions are made on the basis of a person’s personal data, the history of his financial transactions, online activities and similar factors.
Machine learning solutions automate the buyback and placement process. This allows you to make transactions at the best prices and eliminates human errors.
Communication with customers is time-consuming and costly to run call centers. Machine learning can dramatically reduce the workload of operators by using chatbots that study people’s requests and generate personalized responses for them.
ML algorithms can predict a person’s behavior based on their demographics and financial history. This allows companies to learn about the risks of losing customers in a timely manner and design the most appropriate retention offers for them.
Examples of the use of machine learning by large financial companies AVADA-MEDIA
Despite the relative “youth” of the technology, it is already being used by large financial companies. Moreover, there are successful examples of its application. Consider the popular facts on the domestic and world market.
In 2016, the MasterCard Safety Net machine learning system detected anomalies, such as the withdrawal of large funds outside the usual region of use for this account. The activity extended to 300 ATMs in 26 countries.
The payment system blocked transactions and sent appropriate notifications to banks.
Later it turned out that these were fraudulent actions that could lead to losses in excess of $ 40 million. However, thanks to the Safety Net machine learning system, the losses were limited to only $ 100 thousand.
Using Machine learning technology, the Ukrainian bank Monobank was able to reduce the number of problem borrowers. The percentage of their determination increased to 66%. This allowed the financial institution to increase the number of loans issued, including to people without credit history. As a result, the bank significantly increased the profitability of its products, minimizing the risks of non-return.
Why implement machine learning? AVADA-MEDIA
Machine learning algorithms open up new opportunities for business development. They help: automate all possible processes, build a more competent model of interaction with clients, make more balanced management decisions, and much more.
The best confirmation of our qualifications and professionalism are the stories of the success of our clients and the differences in their business before and after working with us.
Our clients What they say about us
Thanks to AVADA-MEDIA for a great project. The developers of AVADA-MEDIA have made for us a convenient and functional system for booking homes. This is not our first project with this company. The professionalism of its developers and competent management make the company the best IT partnerDenis, owner
I have been working with the AVADA-MEDIA team for more than 5 years. I want to note the professionalism of the developers and the excellent management of the employees who always help me in the tasks. We have implemented many different ideas with the AVADA-MEDIA team, and at the moment we are moving the existing store to a new platform.Risto, owner
He chose the AVADA-MEDIA team for his startup and for several years now we have been developing this project together. A lot of things have been done and improved during this time. Thanks to the team of AVADA specialists, the project is gaining commercial momentum and has already entered the Ukrainian market.Игорь, Co-owner
We have been cooperating with Sergey’s team for 5 years in various business areas, including in the field of information technology. Sergey has repeatedly demonstrated the highest level of expertise and responsibility in our joint projects, especially in an uncertain situation and for a limited time.Bogdan Yurchenko, Director
As a technical director, Sergey perfectly organized work on the SeshMe mobile application project, thanks to which we always received results in time. Also I would like to note the high level of developers from the team of Sergey. Very happy to work together. I recommend Sergey as a reliable and responsible partner.Vlad Konovalov, Product manager
are created only by the team Our team
Contact the experts Have a question?
The user, filling out an application on the website https://avada-media.ua/ (hereinafter referred to as the Site), agrees to the terms of this Consent for the processing of personal data (hereinafter referred to as the Consent) in accordance with the Law of Ukraine “On the collection of personal data”. Acceptance of the offer of the Consent is the sending of an application from the Site or an order from the Operator by telephone of the Site.
The user gives his consent to the processing of his personal data with the following conditions:
1. This Consent is given to the processing of personal data both without and using automation tools.
2. Consent applies to the following information: name, phone, email.
3. Consent to the processing of personal data is given in order to provide the User with an answer to the application, further conclude and fulfill obligations under the contracts, provide customer support, inform about services that, in the opinion of the Operator, may be of interest to the User, conduct surveys and market research.
4. The User grants the Operator the right to carry out the following actions (operations) with personal data: collection, recording, systematization, accumulation, storage, clarification (updating, changing), use, depersonalization, blocking, deletion and destruction, transfer to third parties, with the consent of the subject of personal data and compliance with measures to protect personal data from unauthorized access.
5. Personal data is processed by the Operator until all necessary procedures are completed. Also, processing can be stopped at the request of the User by e-mail: email@example.com
6. The User confirms that by giving Consent, he acts freely, by his will and in his interest.
7. This Consent is valid indefinitely until the termination of the processing of personal data for the reasons specified in clause 5 of this document.
Contact us in any way convenient for you:+ 38 (097) 179 96 63