Technological Advancements and Challenges
Lenders are continually updating their technology, eliminating outdated tools and exploring new ones, amidst the evolving IT landscape.
Meanwhile, AI companies are teaching robots to perform household chores by paying individuals to fold laundry in front of them, in an effort to enhance their learning capabilities.
It’s disappointing that we may never see a robot get tangled in a fitted sheet.
Although automated machines have been around for centuries, with the French being at the forefront 250 years ago, modern technologies like crypto ATMs are now being exploited by scammers, resulting in significant financial losses for Americans, including potential borrowers.
Crypto scams have attracted individuals seeking to make quick profits, often disregarding the harm caused to victims.
Author's summary: Lenders update tech as AI and scams evolve.
- Borrower Monitoring
- AI Processing
- DPA
- Verification Tools
- Events and Training