Recommender Systems - The Foundation of an Intelligent Financial Platform: Prospects of Development

Abstract

Modern recommender systems in the financial sector are considered smart and experienced "financial managers" who are knowledgeable and know the financial situation of each client, regardless of where he is located. At present, a certain limit has been reached for the development of recommender systems in the financial sector. Without determining clear economic feasibility, financial intermediaries may suspend further research in this area. The costs of further promotion and development of recommender systems can only be justified by the economic effect that they can give – additional contacts with customers and the provision of related services, expanding the customer base, developing financial services, and increasing revenues.