With the increasing level of fraud, it is wise to start taking proactive measures to deal with it. With the help of XAI, it can identifies fraud quickly by accessing personal information, in which privacy is very crucial. XAI also provides explaination why one suspicion may arise. Also, this suspicion should not be based on sensitive features, such as age, occupation, nationality, etc. which can be assured to not exist by XAI.

Banks provide loans to customer in need of quick funds for their personal use. However, a thorough assessment of circumstances need to be done pre-approval of this request. By using XAI, this loan request approval screening process can be done automatically. However, a fair and equal judgement should be applied, which means sensitive features such as race, nationality, gender, etc. should not be put in consideration. With XAI's fairness characteristics, any inequality can be avoided.

Money laundering has been one of the most biggest crimes to be committed in a financial environment in which it brings a huge loss to people. In order to prevent this issue to spread out and affecting more people, an anti-money laundering movement is in crucial need to be done. In this case, XAI can identify the possibility of money-laundering activities by gaining full access to all money movements and transactions inside a bank. With XAI's privacy terms in mind, people are more comfortable letting the bank run this operation.

With the uprising trend in credit card scams and misuse, bank institutes have been using credit card scoring method to identify these crimes. By using XAI, it can keep track of unusual activities existing in customers' credit card and notify them about it. Usually, banks would suggest them to freeze their account temporarily to prevent more loss.