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AI-powered robot to serve bank customers in 2020
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By Lee Kyung-min
By Lee Kyung-min
Customers will be able to use robot-recommended financial services that best meet their needs, the financial regulatory said Thursday.
NongHyup Bank will introduce an artificial intelligence (AI)-powered robot in November that notifies users of the best time to visit bank branches after assessing the number of customers at the office and the expected wait time.
Reservations can be made by the robot and it will analyze customers' spending patterns to recommend financial products ― including credit or debit cards, installment savings and insurances ― that best suit them.
This is one of the nine newly recognized innovative financial services announced by the Financial Services Commission (FSC) Thursday. The number of these services now totals 77.
Among them are AI-powered over-the-counter bond brokerage services that SK Securities is set to launch by next October.
The online platform will enable customers to buy government bonds regardless of the investment volume. Real-time information on price, yields and credit ratings will be available.
Another service to be rolled out by Tru Technologies, a budding fintech, will offer automated securities lending and borrowing, previously managed manually by brokerage house officials.
The service for institutional investors is set to launch next April. It will also prevent naked short selling and payment default, expediting fast, accurate and efficient work processes by reducing human error.
Coupang and Samsung Card users will be able to withdraw cash from automated teller machines (ATMs) using simplified self-verification via text message. Customers now cannot withdraw cash without answering an automated response system (ARS).
“This is how the technologies will fundamentally change the financial industry landscape,” Korea Capital Market Institute (KCMI) senior research fellow Lee Hyo-seob said. “More AI-based services will be developed in coming years, improving customer convenience, technological development and consumer protection.”