[Italian] AI Based Credit Underwriting is a Real Business Need
How Can Banks Stay Relevant and Prevail in This Market?
AI Based Credit Underwriting is a Real Business Need: How Can Banks Stay Relevant and Prevail in This Market?
Full insight is in Italian.
With the advent of new technologies, the financial services industry has been reshaped and will continue to change at a fast pace in the upcoming years. The entrance of Fintech and Bigtech companies poses a new threat to traditional banks’ business models. Being the first innovation mover in a yet untouched space can result not only in a competitive advantage, but also in higher gains, thanks to the optimization of current procedures. This is the case of Credit Underwriting with regard to the “scoring process,” in particular, which is undervalued by many. However, with the correct approach and solution, it can bring visible benefits to banks in the short and long run.
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