Technology is transforming the banking sector in more ways than one can imagine—from managing customer data to handling collateral through assessing credit risk. The evolving cognitive technology that derives computational capability from machine learning, natural language processing, and artificial intelligence enables banking sector to enhance the process efficiency and predictive accuracy while assessing credit risk of their clients. Besides, cognitive computing technology will benefit the banking industry in a myriad ways, especially in controlling and monitoring credit risk management. It will not only improve the management but will also help banks achieve greater cost-efficiency and better client relationship.
Cognitive computing has the potential to transform the credit…
