Machine Learning in Finance Case of Credit Scoring

In recent years, the financial services industry has prioritized the use of artificial intelligence to surpass consumer expectations; lower operating costs, and make better business decisions. Because the finance business accumulates a large volume of big data from its consumers, it is perfectly suited to the benefits of data mining. Banks and financial institutions are already using several innovative financial apps based on machine learning algorithms. The objective of this paper is to study the two different credit scoring techniques: classical statistical methods and advanced Machine Learning methods. Their interests are a powerful tool to predict the creditworthiness of borrowers.