AI INNOVATIONS IN BANKING AND FINANCIAL TECHNOLOGY

Abstract

Abstract: Artificial Intelligence (AI) is transforming the banking and financial technology (FinTech) landscape by enhancing operational efficiency, improving customer experience, and strengthening risk management systems. This research paper explores key AI innovations in banking and FinTech, their applications, benefits, challenges, and future prospects. The study also highlights how AI-driven technologies such as machine learning, natural language processing, and predictive analytics are reshaping financial services. While AI provides numerous advantages, including fraud detection and automation, it also introduces risks such as data privacy concerns and algorithmic bias. The paper concludes by emphasizing the need for responsible AI adoption and robust regulatory frameworks. Keywords: Artificial Intelligence, FinTech, Banking Innovation, Machine Learning, Digital Finance