THE WEALTH BOOSTER

AI is widely used for customer service, fraud detection, risk management, and real-time analytics. Finance leaders are focusing on upskilling employees to use AI effectively. This trend is transforming decision-making and operational efficiency. Artificial Intelligence (AI) in Finance is a transformative trend reshaping the industry. AI is widely adopted for automating processes, enhancing decision-making, and managing risks. Key areas where AI is making an impact include: 1. Fraud Detection : AI algorithms analyze transaction patterns to detect unusual activities, reducing fraudulent incidents in real-time. 2. Risk Management : Financial institutions use AI to assess credit risk, market volatility, and portfolio performance, enabling proactive responses. 3. Customer Service : AI chatbots and virtual assistants provide 24/7 support, improving user experience and operational efficiency. 4. Real-Time Data Analytics: AI-powered analytics deliver insights on market trends, consumer behavio...

A credit score is a numerical representation of an individual's creditworthiness, typically ranging from 300 to 850. It is calculated based on factors such as payment history, credit utilization, length of credit history, types of credit used, and recent credit inquiries. Lenders, landlords, insurers, and even employers often use credit scores to assess the financial responsibility of an individual. The importance of a credit score lies in its ability to impact several aspects of financial life. Firstly, it determines an individual’s eligibility for loans and credit cards. A higher credit score increases the likelihood of loan approvals with better interest rates and terms. Secondly, it affects the cost of borrowing. People with good credit scores are often rewarded with lower interest rates, saving them significant amounts over time. Here are seven reasons why your credit score is important: 1. Access to Better Loan Terms A high credit score can help you qualify for loans with lo...