Artificial intelligence application in loan approval: challenges and possible solutions
Track
Best Practicies & Success Stories
Date and time
Wednesday, 18. May 2022., 16:40
Room
Hall B
Duration
45'
This lecture provides a brief overview of the AI application in the banking industry and the critical obstacles for further progress. We discuss the retail lending process in detail due to the significant potential for AI application. We also focus on the issue of data protection and privacy, the new challenges for the broader application of AI-based solutions. We present federated machine learning technology, which offers a theoretical solution to these problems. Finally, we provide a fully implemented example of AI in the retail lending process based on the INOK system.
Lecture details
About speaker
Stjepan Oreški, author
Stjepan Oreški is a professional manager, software developer, lecturer, and scientist interested in banking, artificial intelligence, software development, design, and maintenance of information systems. He gained banking experience in jobs covering all phases of software development, database administration, and sector management. He co-authored several scientific papers, three of which were published in the most prestigious artificial intelligence journals (ESWA, ASOC). He is the winner of The Web of Science Award for Highly Cited Paper 2015, awarded to the top 100 most relevant papers in the area. Reviewer in several scientific journals from the same area, three of which are ranked among the top 10 in the world.
Goran Oreški, coauthor
Goran Oreški completed the Faculty of Organization and Informatics in 2010. He received a Ph.D. degree in 2016 from the Faculty of Organization and Informatics. He studied at the Karl Frances University of Graz, Austria, within the international exchange student program. He has published several scientific papers in Expert systems with applications, a world-renowned journal for artificial intelligence. In 2010 he founded GO Studio d.o.o. for computer programming. He spent his professional career in the banking industry and IT companies, including GO Studio. Today he is an assistant professor at the Faculty of Informatics in Pula. His area of interest is credit risk assessment based on artificial intelligence and research related to autonomous vehicles.