December 2017 – AIZEN

AIZEN Global: Artificial Intelligence for better Banking Practices

“The firm’s ABACUS AI platform specializes in retail banking and insurance, helping them automate key business value chains”

The banking industry has always been seeking new technology. Banks now start to realize the importance of Artificial Intelligence (AI) to incorporate into their business processes. Especially in Retail Banking sector, there are huge opportunities to improve the efficiency of the process, by combining banks’ data, business-customized algorithms, and by improving processing power.

Due to the benefits from AI technology, strong demands are expected across the industry, at the same time, shortage of supply is also expected for the foreseeable future. Banks are trying either to hire AI expertise or to train Bankers to learn AI. However, finding an expert in both areas takes substantial resources. AIZEN Global based in Korea uses AI and expert financial knowledge to create predictive models in key functionalities in real-time, applied for U$400B size of financial institutions with its ABACUS platform.

“In the retail banking sector, huge opportunities can be created if data scattered around the organization is gathered in one platform.”says Jung Seok Kang, CEO of AIZEN Global. “Like key autonomous vehicle technology is changing the automobile industry, our vision is to provide key autonomous technology in Finance by applying AI to core business decision-making process.” continues Mr.Kang. Currently AIZEN’s AI business service is offered as an on-premises basis, and is actively working to transform it into a Cloud platform.

The firm’s ABACUS AI platform specializes in retail banking and insurance, helping them automate and improve efficiency in key business value chains. Today, most banks continue to use legacy systems that are often off-limits to providers. ABACUS, however, allows for smooth implementation into the bank’s legacy systems. The platform uses an API structure that helps the banks to interact with its database, which is kept on-premises so that the legacy systems can just hook into it to upload the data. ABACUS then extracts the variables from the data to create derivative parameters that are based on the existing parameters set by the bank.

On top of private sector, AIZEN provides combined predictive models for the Korean government’s guaranteed loan program. The government spends around $400 million per annum to support the low-income profile through traditional banking system. From the bank’s perspective, even if the loan defaults, the government will provide funds to them, which can prove to be costly for the latter. AIZEN creates sophisticated predictive models for the program which helps the government in either reducing its expenditure or utilizing the same amount of money for expanding a beneficial loan program which can help the people. AIZEN sees that almost all countries face the same issue.

AIZEN is ahead of the competition in terms of technology, experience and its talent eco-system. It has implemented its AI system into one of Korea’s largest banks, with $400 billion in assets. By applying AI predictive models in their core value chain using AIZEN ABACUS, to the value chain, partner bank cut its data analysis time, improved acceptance rate and created new business process using AI predictive models.

AIZEN has a lot of potential to diversify its business applications, functions, and portfolios. The firm is currently focusing on the personal lending space which has been valued at $5 billion, and as it is working on standardizing its products, it will increase the ease of expansion into other products like mortgages, small and medium-sized enterprise loans and car loans.

The firm is moving to Asset Management and Digitized Bank using same AI technology. AIZEN is either creating or merging small-sized banks and converting them into digitized banks. The organization is also improving its algorithm to have it standardized to scale up, which will also allow for functionally expanding its service models.

[Source] APAC CIO Outlook: https://fintech.apacciooutlook.com/vendor/aizen-global-artificial-intelligence-for-better-banking-practices-cid-2714-mid-139.html

Featured in APAC CIO Outlook ‘Top 25 FinTech Companies 2017’

Artificial Intelligence for better Banking Practices

AIZEN is proud to announce that it is featured in APAC CIO Outlook’s ‘Top 25 FinTech Companies 2017’.
This magazine, aimed at CIOs worldwide, gives a comprehensive view of the industry and its immense potentialities.

The banking industry has always been seeking new technology for the last few des. Banks now start to realize the importance of Artificial Intelligence (AI) to incorporate into their business processes. Especially in Retail Banking sector, there are huge opportunities to improve the efficiency of the process, by combining banks’ data, business-customized algorithms, and by improving processing power.

Due to the benefits from AI technology, strong ands are expected across the industry, at the same time, shortage of supply is also expected for the foreseeable future. Banks are trying either to hire AI expertise or to train Bankers to learn AI. However, finding an expert in both areas takes substantial resources. AIZEN Global based in Korea uses AI dels in key functionalities in real-time, applied for U$400B size of financial institutions with its ABACUS platform.

“In the retail banking sector, huge opportunities can be created if data scattered around the organization is gathered in one platform.”says Jung Seok Kang, CEO of AIZEN Global. “Like key autonomous vehicle technology is changing the automobile industry, our vision is to provide key autonomous technology in Finance by applying AI to core business decision-making process.” continues Mr.Kang. Currently AIZEN’s AI business service is offered as an on-premises basis, and is actively working to transform it into a Cloud platform.

The firm’s ABACUS AI platform specializes in retail banking and insurance, helping them automate and improve efficiency in key business value chains. Today, most banks continue to use legacy systems that are often off-limits to providers. ABACUS, however, allows for smooth implementation into the bank’s legacy systems. The platform uses an API structure that helps the banks to interact with its database, which is kept on-premises so that the legacy systems can just hook into it to upload the data. ABACUS then extracts the variables from the data to create derivative parameters that are based on the existing parameters set by the bank.

On top of private sector, AIZEN provi dels for the Korean government’s guaranteed loan program. The government spends around $400 million per annum to support the low-income profile through traditional banking system. From the bank’s perspective, even if the loan defaults, the government will provide funds to them, which can prove to be costly for the latter. AIZEN creates sophisticated predictive models for the program which helps the government in either reducing its expenditure or utilizing the same amount of money for expanding a beneficial loan program which can help the people. AIZEN sees that almost all countries face the same issue.

AIZEN is ahead of the competition in terms of technology, experience and its talent eco-system. It has implemented its AI system into one of Korea’s largest banks, with $400 billion in assets. By applying AI predictive models in their core value chain using AIZEN ABACUS, to the value chain, partner bank cut its data analysis time, improved acceptance rate and created new business process using AI predictive models. Multiple business applications is under developing.

AIZEN has a lot of potential to diversify its business applications, functions, and portfolios. The firm is currently focusing on the personal lending space which has been valued at $5 billion, and as it is working on standardizing its products, it will increase the ease of expansion into other products like mortgages, small and medium-sized enterprise loans and car loans.

The firm is moving to Asset Management and Digitized Bank using same AI technology. AIZEN is either creating or merging small-sized banks and converting them into digitized banks. The organization is also improving its algorithm to have it standardized to scale up, which will also allow for functionally expanding its service model.

[테크본색] 에이젠글로벌, 인공지능 핀테크 스타트업_스타트업 히어로

본격 테크 프로그램 `테크본색`만의 혁신 스타트업 발굴 프로젝트, 스타트업 히어로!

이번 출연 업체는 인공지능으로 금융 혁신을 이끌 핀테크 스타트업 `에이젠글로벌`입니다.

에이젠글로벌은 인공지능이 스스로 금융 시스템을 컨트롤하고 리스크를 예측하는
ABACUS 플랫폼을 다양한 금융회사에 공급하고 있습니다.

이미 영국, 일본, 싱가포르 등 해외에서도 주목 받고 있는 에이젠글로벌은 `대한민국 멀티미디어 기술대상`에서 미래창조과학부 장관상을 수상하는 등 많은 수상경력을 자랑하기도 하는데요.

12월 20~22일까지 코엑스에서 열리는 제4회 앱쇼코리아에도 참여하는 에이젠글로벌의 기업 가치(밸류에이션), 과연 얼마일까요?

지금 바로 영상으로 확인해 보세요!

* [테크본색] 방송시간 : 한국경제TV 매주 목 오후 8시
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작가 강윤이 / 조연출 권소정 / 연출 김태혁

진행
전화성 씨엔티테크 대표

출연
강정석 에이젠글로벌 대표, 엄철현 지온인베스트먼트 대표

[출처] WOW 한국경제TV: https://youtu.be/jzGt692ZM0A

Awarded for Smart Technology for Sustainable Development

STS&P(Smart Technology for Sustainable Development & Procurement)
AIZEN has participated in an international exhibition called STS&P 2017, supported by the United Nations and global organizations.

We have won the 3rd place at a Technology Contest for developing smart technologies and services that contributes to United Nations’ Sustainable Development Goals (SDGs).

“AI for Better Finance”.
With AI, We aim to promote inclusive and sustainable economic growth and industrialization in developing countries, and mitigate inequalities by providing customized financial benefits for the underprivileged.

For more information:
The exhibition: www.stsnp.com
SDGs: www.un.org/sustainabledevelopment/

우리은행, ‘위비핀테크랩 시네마 데모데이’ 개최

우리은행은 4일 오후 2시 서울 중구 본점에서 위비핀테크랩에 입주한 스타트업의 사업 소개와 향후 계획을 발표하는 ‘위비핀테크랩 시네마 데모데이’를 개최한다고 밝혔다.

이번 데모데이는 위비핀테크랩 1~2기 9개 스타트업 기업인 한국신용데이터(중소사업자 대상 간편회계서비스), 앤톡(국내외 주식 자동화 분석 솔루션), 에이젠글로벌(AI 금융플랫폼), 매너카(신차 구입 직거래), 턴온(자동이체 플랫폼), 엠로보(맞춤투자정보 큐레이션), 엘핀(위치기반 모바일 인증), 트라이월드홀딩스(차량 수리보증 앱), 더코더(이미지·사운드코딩)와 함께 금융권 관계자, 사업파트너 250여명이 참여할 예정이다.

스타트업은 각 기업의 다양한 핀테크 사업과 향후 계획을 벤처 캐피탈 등 관계자들에게 소개하고 투자 유치와 기술 판매 계약을 추진한다.

이날 데모데이에서는 입주기업들의 에피소드와 인터뷰를 바탕으로 제작한 단편영화 ‘대한민국 김대표’를 상영한다. 스타트업이 경험하는 현실과 애환을 담은 이 영화는 오후 2시부터 본점 4층 강당에서 상영, 누구나 관람할 수 있다.

[출처] 매일경제 http://news.mk.co.kr/newsRead.php?year=2017&no=801895

Wibee FinTech Lab 2nd Demo Day

Wooribank, the leading bank in S.Korea, held its 2nd Demo Day, where 9 promising startups under ‘Wibee FinTech Lab’ showcased their ideas pushing the industry forward.

AIZEN has successfully implemented its real-time AI Financial Platform, ABACUS, into Wooribank’s core business value chain.

“Like key autonomous vehicle technology is changing the automobile industry, our vision is to provide Advanced Finance Assistance System (AFAS) by applying AI to core business decision-making processes.”
(JS Kang, CEO of AIZEN)

Related Article:

우리은행, ‘위비핀테크랩 시네마 데모데이’ 개최