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Future of Banking Security: Using Neural Networks to Predict and Prevent Loan Defaults

Research output: Chapter in Book/Report/Conference proceedingConference contribution

Abstract

This paper proposes using Artificial Neural Networks to enhance banking security by predicting loan defaults. It advocates integrating advanced technology to address challenges in risk management. The research focuses on using neural networks to analyze historical data and predict default probabilities, aiding proactive risk management. The methodology involves training a model on diverse financial parameters, demographics, and economic indicators. Leveraging neural networks' ability to identify complex patterns, the model improves creditworthiness assessments for informed decision-making. It details the network architecture, feature selection, and model performance evaluation. The study emphasizes AI's transformative potential in risk assessment amid changing financial landscapes. Results show ANN integration significantly improves default predictions, offering valuable insights for banks seeking robust risk management strategies.

Original languageEnglish
Title of host publication2024 IEEE Region 10 Symposium, TENSYMP 2024
PublisherInstitute of Electrical and Electronics Engineers Inc.
ISBN (Electronic)9798350364866
DOIs
Publication statusPublished - 2024
Event2024 IEEE Region 10 Symposium, TENSYMP 2024 - New Delhi, India
Duration: 27-09-202429-09-2024

Publication series

Name2024 IEEE Region 10 Symposium, TENSYMP 2024

Conference

Conference2024 IEEE Region 10 Symposium, TENSYMP 2024
Country/TerritoryIndia
CityNew Delhi
Period27-09-2429-09-24

All Science Journal Classification (ASJC) codes

  • Waste Management and Disposal
  • Health Informatics
  • Artificial Intelligence
  • Computer Networks and Communications
  • Computer Science Applications
  • Computer Vision and Pattern Recognition
  • Energy Engineering and Power Technology

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