This analysis highlights how predictive analytics improves payment behavior in digital payments, suggesting significant benefits for financial institutions.
This paper delves into the transformative potential of predictive analytics, powered by artificial intelligence (AI), in forecasting payment behavior within the digital payment’s ecosystem. Predictive analytics, using machine learning models, analyzes historical payment data, identifies patterns, and anticipates future consumer actions. Financial institutions leverage these insights to enhance payment processes, improve fraud detection, reduce payment defaults, and offer personalized services. The study also examines a case where AI-driven analytics successfully reduced late payments and improved customer satisfaction. Ethical challenges such as data privacy, model bias, and regulatory compliance are addressed. The findings underscore the significant role of predictive analytics in optimizing digital payment systems and enhancing the overall customer experience, paving the way for a more seamless and satisfying digital payment journey.
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Kumar Shanmugasamy - (2024) studied this question.