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Conferences > 2024 IEEE 9th International C... 

Bank Loan Prediction System Using Machine Learning Models

Publisher: IEEE Cite This  PDF

Muhammad Zunnurain Hussain ; Sadia Ejaz ; Ezza Batool ; Muhammad Zulkifl Hasan ; Muzzamil Mustafa ; Aqsa K… All Authors

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Abstract Abstract: More Like This

This paper discusses the increasing number of loan applications in the banking sector and the
Customer Loan Eligibility
Document Sections challenges faced by financial institutions in making informed lending decisions. It presents a machine
Prediction using Machine
learning approach that uses historical loan data to predict loan approval using various classification
I. INTRODUCTION Learning Algorithms in Banking
models. The primary objective is to predict whether a particular individual’s loan application will be
Sector
II. EASE OF USE approved or rejected by the bank. To achieve this goal, the paper first investigates the data available on 2022 7th International Conference on

the loan applicants, such as their credit score, employment status, and other factors that may influence Communication and Electronics

III. RELATED WORKS Systems (ICCES)

the bank’s decision. It then employs machine learning algorithms to classify the loan applications into
Published: 2022

IV. PROPOSED approved, rejected, and undecided categories. Finally, the paper evaluates the accuracy and
SOLUTION performance of the model on unseen data. The results obtained from the evaluation indicate that the Trust in the European Central

model is effective in predicting loan approval decisions with a high degree of accuracy. The proposed Bank: Using Data Science and
V. METHODOLOGY approach is thus a viable solution to the problem of making informed lending decisions in the banking predictive Machine Learning

Show Full Outline  sector. Algorithms

2020 10th International Conference on

Authors Advanced Computer Information

Published in: 2024 IEEE 9th International Conference for Convergence in Technology (I2CT) Technologies (ACIT)

Figures Published: 2020

Date of Conference: 05-07 April 2024 DOI: 10.1109/I2CT61223.2024.10543786

References Show More

Keywords Date Added to IEEE Xplore: 10 June 2024 Publisher: IEEE

Metrics  ISBN Information: Conference Location: Pune, India

I. INTRODUCTION
In the realm of commercial loan lending, assessing borrower creditworthiness presents a formidable
challenge, pivotal for predicting credit default risks and ensuring banking industry stability. Traditional
methods, reliant on manual evaluation and simplistic scoring models, fall short in addressing the
complexity and scale of modern loan applications. This paper proposes a novel machine learning-based
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approach to automate and enhance the loan validation process. By integrating sophisticated data
preprocessing techniques and advanced classification algorithms, our study not only aims to improve
prediction accuracy but also to significantly expedite the decision-making process, aligning with the
evolving needs of the banking sector

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