What is Robo-Advisory

This chapter aims to conduct a comprehensive assessment of current applications and opportunities based on AI within the framework of the new-generation banking paradigm emerging with the integration of FinTech (financial technology) in the financial sector. In this context, AI and solutions in the banking sector have been thoroughly examined, addressing key issues shaping the transformation of financial services. Specifically, AI solutions in banking including cybersecurity and fraud management (fraud prevention), speech recognition, voice response, routing and analysis (IVR/IVN/ASR), credit assessment (credit scoring), user experience enhancement (personalized recommendations and advice), virtual chat robots (chatbots), self-service kiosks, digital screens, robo-advisory, and auditing have been scrutinized in light of current trends. Based on all this information, particular insights and evaluations have been drawn.