How banks can leverage AI to better manage pandemic relief programs

Posted: 2020-07-28

Author: Admin

The recent massive economic shifts due to COVID-19 have driven up risk for the vast majority of financial services institutions. Customer sentiment, spending and behavior have changed, and enrollments in forbearance and deferral programs have shot up. In a recent article published at the Risk Management Association, Raj Gangavarapu (Head of Data Science at diwo) illustrates how banks can stay competitive in this shifting environment by leveraging AI to:

  • Predict and track enrollment and performance trends;
  • Mitigate losses and improve collections efficiency;
  • Increase their digital-channel capabilities;
  • Effectively leverage disparate data and capture complex multi-level relationships; and
  • Monitor and improve models for a fast-changing environment.

 

Read the full article on the Risk Management Association Blog: https://www.rmahq.org/how-banks-can-leverage-ai-to-better-manage-pandemic-relief-programs/