Chatbots, AI to empower fintech firms in 2018
As the year is drawing towards a close, an analysis of the performance of the fintech industry shows that it witnessed robust growth in 2017, in the backdrop of a technological revolution that included the emergence of Artificial Intelligence (AI), Chatbots, and machine learning.
Want a loan? Make sure you’re tweeting the right things
The article that someone tweeted about, posts that they liked on Facebook, and a new phone just bought on an e-commerce site—all these events now play a crucial role in determining if an individual is eligible for a loan or not.
Your phone can help you get a loan instantly
Many non-banking financial companies (NBFCs) have started looking at your social media profile and other parameters to decide whether or not a loan should be sanctioned to you. It also helps them effectively evaluate those borrowers who do not have a credit history, such as youngsters who have entered the job market recently.
Fintech cos like CapitalFloat, LoanTap are using bots to decide if you're eligible for a loan
It is a very good sign for us that our filters and assessment methods are working. We are using machine learning to predict exactly what size of loan is suitable for a particular customer," said Satyam Kumar, executive director at LoanTap.