It is usual for every person in business to take a loan from time to time to keep their business moving. The conventional way of taking a loan is to contact the bank, fill out a loan application form, and then wait further for its approval. The bank checks the creditworthiness of the person who is applying for the loan. Bank also checks their credit score and other issues such as bankruptcy and others. The purpose of this is to avoid any inconvenience, but the setback of traditional ways is that the bank lends money to those who don’t need it. This is why most deserving people, students, and people with low credit are left out with the loan policy. This is where AI can become helpful in the Fintech sector by analyzing several people’s data at once.