Artificial intelligence and machine learning have taken a significant step forward in usage in Russian banks. Here are ways Russian banks are taking advantage of this new technology:
- Sberbank has completed 20 successful artificial intelligence pilot projects aimed at creating new products and services as well as optimizing banking processes.
- Uralsib Bank uses artificial intelligence to analyze client data and quickly identify the specific needs of its customers.
- Binbank has introduced models based on machine learning into its collections practices, significantly increasing the efficiency of its collections activities.
- VTB Bank is exploring how machine learning can be used to compliment its scoring applications (i.e. risk scoring, response models, etc.).