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How is data science used in fintech?

Fintech, or the banking, finance services & insurance sector as a whole, is the most pervasive users of Big Data technologies & offerings. Big Data Analysis or Data Science in the field of FinTech is majorly catered to two primary or fundamental aspects – first is optimizing the investment portfolio of the entity by drawing a logical balance between risk and reward, and secondly, catering to the risk profile of the business in terms of understanding the operational risk, credit risk, market risk; as well as analysing potential causes of money laundering and other illegal activities which could potentially harm the business.