THE BENEFITS OF AUTOMATING THE LENDING PROCESS THROUGH ARTIFICIAL INTELLIGENCE

Authors

  • Yusupova Hurliman Chief Specialist of Main Directorate of the Republic of Karakalpakstan JSC "Uznacbank"

Keywords:

Artificial Intelligence (AI), Lending Process, Automation

Abstract

The automation of the lending process through artificial intelligence (AI) represents a significant advancement in financial technology, promising enhanced efficiency, accuracy, and customer satisfaction. This article explores the multifaceted benefits of AI-driven automation in lending, examining its impact on operational efficiency, risk assessment, customer experience, and regulatory compliance. Through an analysis of current implementations and future potential, we highlight how AI is transforming the lending landscape, offering a competitive edge to financial institutions while fostering greater financial inclusion.

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References

Financial Conduct Authority. (2020). "The impact of artificial intelligence on the financial industry."

McKinsey & Company. (2021). "AI in banking: A practical guide to transforming the lending process."

World Bank. (2021). "Financial inclusion through digital technologies: The role of AI in expanding access to credit."

Deloitte. (2020). "AI and the future of financial services: How artificial intelligence is reshaping the lending industry."

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Published

2024-04-30

How to Cite

Yusupova Hurliman. (2024). THE BENEFITS OF AUTOMATING THE LENDING PROCESS THROUGH ARTIFICIAL INTELLIGENCE. International Scientific and Current Research Conferences, 1(01), 95–98. Retrieved from https://www.orientalpublication.com/index.php/iscrc/article/view/1522

Issue

2024: MIND, MATTER, AND MEANING: UNITING NEUROSCIENCE, PHILOSOPHY, AND COGNITIVE SCIENCE

Section

Articles

License

Copyright (c) 2024 Yusupova Hurliman

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