Related papers: Machine Assistance for Credit Card Approval? Rando…
Machine learning has opened up new tools for financial fraud detection. Using a sample of annotated transactions, a machine learning classification algorithm learns to detect frauds. With growing credit card transaction volumes and rising…
Manual approvals are still used by banks and other NGOs to approve loans. It takes time and is prone to mistakes because it is controlled by a bank employee. Several fields of machine learning mining technologies have been utilized to…
Credit scoring is vital in the financial industry, assessing the risk of lending to credit card applicants. Traditional credit scoring methods face challenges with large datasets and data imbalance between creditworthy and non-creditworthy…
Credit default poses significant challenges to financial institutions and consumers, resulting in substantial financial losses and diminished trust. As such, credit default risk management has been a critical topic in the financial…
Venezuelan banks have historically made credit card limit adjustment decisions manually through committees. However, since the number of credit card holders in Venezuela is expected to increase in the upcoming months due to economic…
As the world is rapidly moving towards digitization and money transactions are becoming cashless, the use of credit cards has rapidly increased. The fraud activities associated with it have also been increasing which leads to a huge loss to…
This paper explores the integration of Explainable Automated Machine Learning (AutoML) in the realm of financial engineering, specifically focusing on its application in credit decision-making. The rapid evolution of Artificial Intelligence…
Credit cards play an exploding role in modern economies. Its popularity and ubiquity have created a fertile ground for fraud, assisted by the cross boarder reach and instantaneous confirmation. While transactions are growing, the fraud…
Automated decision making is used routinely throughout our everyday life. Recommender systems decide which jobs, movies, or other user profiles might be interesting to us. Spell checkers help us to make good use of language. Fraud detection…
The use of credit cards has recently increased, creating an essential need for credit card assessment methods to minimize potential risks. This study investigates the utilization of machine learning (ML) models for credit card default…
Lending decisions are usually made with proprietary models that provide minimally acceptable explanations to users. In a future world without such secrecy, what decision support tools would one want to use for justified lending decisions?…
The automatic detection of frauds in banking transactions has been recently studied as a way to help the analysts finding fraudulent operations. Due to the availability of a human feedback, this task has been studied in the framework of…
With the increase of credit card usage, the volume of credit card misuse also has significantly increased. As a result, financial organizations are working hard on developing and deploying credit card fraud detection methods, in order to…
Credit assessments activities are essential for financial institutions and allow the global economy to grow. Building robust, solid and accurate models that estimate the probability of a default of a company is mandatory for credit…
The widespread use of machine learning in credit scoring has brought significant advancements in risk assessment and decision-making. However, it has also raised concerns about potential biases, discrimination, and lack of transparency in…
Automated decision systems increasingly rely on human oversight to ensure accuracy in uncertain cases. This paper presents a practical framework for optimizing such human-in-the-loop classification systems using a double-threshold policy.…
We use machine learning techniques to investigate whether it is possible to replicate the behavior of bank managers who assess the risk of commercial loans made by a large commercial US bank. Even though a typical bank already relies on an…
The growing need for labeled training data has made crowdsourcing an important part of machine learning. The quality of crowdsourced labels is, however, adversely affected by three factors: (1) the workers are not experts; (2) the…
Banks are important for the development of economies in any financial ecosystem through consumer and business loans. Lending, however, presents risks; thus, banks have to determine the applicant's financial position to reduce the…
For the highly imbalanced credit card fraud detection problem, most existing methods either use data augmentation methods or conventional machine learning models, while neural network-based anomaly detection approaches are lacking.…