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AI and Fraud in Fintech: Opportunities and Risks
This chapter explores the transformative impact of AI in the fintech sector, particularly in enhancing customer support and addressing financial inquiries. It discusses the increasing sophistication of fraud tactics, the challenges posed by AI, and the need for improved verification systems to ensure consumer protection. The conversation also examines the contrasting developments of fintech companies like NewBank and SoFi, as well as the competitive dynamics between neobanks and traditional banks in the evolving financial landscape.