54% of fintech companies with over 5,000 employees have adopted AI

 54% of fintech companies with over 5,000 employees have adopted AI

With 92% of consumers expecting a fast, frictionless experience while also getting one that is as trustworthy and secure as possible, financial technology companies are working to make their products more personal while also making them efficient and seamless.

This was revealed in the findings of The Payments Association (formerly The Emerging Payments Association or EPA) in its latest research, ‘Using AI Intelligently: Smart ways to use Artificial Intelligence in Payments’. The report shows how artificial intelligence (AI) and machine learning (ML) are being used in the payments, finance and banking sectors and how they may be used in the future.

Documenting anti-fraud applications

With AI offering a way to combine the best elements of human operators and traditional digital automation, the efficiency savings are potentially astronomical, but more important is the ability of AI to improve itself in real time by analysing…

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