Advancements and Challenges in Recommender Systems: Applications in Banking and Finance

Author(s)	Praneeth Reddy Amudala Puchakayala
Country	United States
Abstract	Recommender systems have become indispensable in simplifying decision-making by providing personalized suggestions across various domains. In banking and finance, these systems have enabled institutions to deliver customized product and service recommendations to enhance user satisfaction and engagement. This paper delves into the evolution of recommender systems, their methodologies, and their integration into banking and finance. It highlights significant advancements, such as AI-powered and hybrid systems, while addressing persistent challenges like cold start problems and data sparsity. With a focus on contemporary methods and case studies, the paper underscores the potential of recommender systems to transform user experiences and drive growth in the financial sector.
Keywords	-
Published In	Volume 14, Issue 4, October-December 2023
Published On	2023-11-07
DOI	https://doi.org/10.71097/IJSAT.v14.i4.1764

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International Journal on Science and Technology