FinTech Magazine - September 2021 | Page 126

TECHNOLOGY
dataset from conscious and unconscious assumptions , labels and ideological concepts , you are able to build an AI system that makes unbiased data-driven decisions .
“ A second point of attention is the security aspect of processing data . Fortunately , there are clear regulations on the processes to be adopted , and there are several support tools that allow you to anonymise and encrypt data when it is not in use .”
DP : “ One of the common data challenges that we face with our clients , especially banks and credit unions , is not having access to these deeper insights ; they struggle to make data actionable .
“ With traditional personal financial management ( PFM ), financial institutions have only had access to transaction-level data , such as the total purchase amount , date purchase , and merchant . But this
126 September 2021