Top 8 Data Science Use Cases in Banking and Finance
Using data science in the banking industry is no longer merely a trend; it is now necessary to maintain competitiveness. Banks need to know how big data technologies might aid in more efficient resource allocation, informed decision-making, and improved performance. This is a collection of data science use cases for the banking industry that we've put together to give you an idea of how you may work with your enormous amounts of data. Data and how to use it efficiently. Further, you can check out the job-ready data science course in Bangalore , developed with accreditation from IBM. Data Science Use Cases in Banking Fraud detection Machine learning is essential for efficiently identifying and preventing fraud involving credit cards, accounting, insurance, and other areas. Banking must employ proactive fraud detection techniques to safeguard customers and employees. If a bank detects fraud as soon as feasible, it can restrict account activity to minimize losses more quickly....