Preventing underselling of funds with AI

Woori Bank (Chief Kwon Kwang-seok) announced on the 28th that it has signed a “Strategic Business Agreement (MOU)” with KT Group to introduce a process to prevent incomplete sales of investment products based on AI.

Due to Corona 19, the signing ceremony was held in an Ontact method using electronic signatures in a video conference room prepared by each company by Sang-Hyung Shim, Vice President of Woori Bank Investment Products Strategy Group and Joon-geun Kim, Head of C-Level Consulting Division, KT Group Enterprise Division.

Through this agreement, the two companies decided to solidly establish a collaboration system in three areas: ▲ AI-based financial product sales process innovation ▲ AI-based financial product complete sales solution introduction ▲ AI learning and consulting to prevent incomplete sales.

First, the two companies share their financial, digital, AI, and ICT capabilities to help introduce a process that can block incomplete sales in a new stage of investment products, and develop a business model to prevent incomplete sales in the future and apply for a joint BM patent. Decided to promote.

To this end, Woori Bank shares the experience accumulated in the fund sales process with KT for the purpose of AI learning, and KT fully utilizes KT’s ICT technology, starting with Woori Bank’s investment product sales process consulting, to incomplete sales at a new stage. We decided to continue practical cooperation, such as developing an AI process that can completely eliminate issues.

An official from Woori Bank said, “This agreement between KT Group and Woori Bank is a new normal that combines ICT technology and finance, and this agreement will be an opportunity to start a new business model in which AI technology is expanded to complete sales of financial investment products.” Said.

On the other hand, Woori Finance and KT signed a’strategic business alliance for digital transformation of financial business’ with Chairman Tae-seung Son, CEO Sang-mo Lee, President Kwon Kwang-seok, and President Dong-myeon Lee of BC Card in August of last year, and innovated financial transaction process based on AI and big data , Cultivating AI manpower in the financial field, and promoting cooperation in joint new businesses using finance and communication data.

FINTECHPOST