{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"Daybreak","title":"AI has made its way into banks. But the gates aren’t wide open","html":"","width":"100%","height":180,"duration":879,"description":"For decades, the whole process of getting a loan approved was infamously painful and long winded. But now things have changed. Getting a loan is a whole lot faster than before. And that’s because of the disruptor to end all disruptors — artificial intelligence.\nA bunch of companies have entered the scene with specalised AI tools to speed up different aspects of the loan-approval process.  In fact,  Indian AI startups have managed to raise nearly 750 million USD in 2024 and the banking and financial sector was one of the top drivers of this growth.\nNow at first glance, it seems like a win-win for both the borrower and the bank. But there’s a catch. This surge has come with a lot of scrutiny from the RBI.\nTune in.\n*This episode was first published on Jan 15, 2025\n\nTell us what you thought of this episode. You can text us your feedback on WhatsApp at +918971108379\n\nDaybreak is produced from the newsroom of The Ken, India’s first subscriber-only business news platform. Subscribe for more exclusive, deeply-reported, and analytical business stories.","thumbnail_url":"https://img.transistorcdn.com/uPitovxKRYBGX6AWg9UrET6s3nAdkS-Ci9uZvsZj7vk/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS85ODhl/ZWM4NmEwZTcxZjZk/MDRlYjAzNTNkMjJi/ZGQ2YS5wbmc.webp","thumbnail_width":300,"thumbnail_height":300}