Chapter 13
Decreasing Lending Risk and Fighting Financial Crimes
IN THIS CHAPTER
Predicting and preventing high-risk loans
Fighting fraud
Enlisting natural language processing in your anticrime crusade
The financial services industry is a treasure trove of opportunities for applying data science to achieve massive wins for your business. I start this chapter by showing you how one data scientist won big for himself and his company by pioneering a successful data science use case with his own two hands. After that, I introduce you to a financial use case that requires quite a bit more sophistication, but in exchange offers over a million dollars of ROI per year while protecting the investment marketplace from would-be scamsters.
If you’re a data professional in the financial services industry, you’re no doubt hearing about risk nearly daily. The good news is that data science offers several viable do-it-yourself options to assist you in your battle against fraud, suspicious behavior, and hidden lending risks. In cases where the scale of the problem is too big, some incredible SaaS solutions out there offer the AI capabilities you need. You’re about to see examples of both these approaches. ...
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