AIZEN GLOBALCreditConnect

Dominated by uncertainty, the post–COVID-19 age will be characterized by the imperative to utilize data-based decision-making, machine learning, and Artificial Intelligence (AI) technologies to cut costs and accelerate innovation. We anticipate that data analysis will continue to prove its efficacy in the new year, facilitating greater management efficiency, establishing competitiveness, providing personalized items to clients, and reducing risks through prediction models. AIZEN ranked second place in the Monetary Authority of Singapore (MAS) Fintech Award, Global Category, alongside global giants, such as Swiss Re (insurance) and BNY Mellon (banking), in recognition of our efforts in innovating Korea’s financial solutions.

Our AI solutions have enjoyed considerable acclaim in their successful transitioning of rule-based financial processes to AI-based ones for greater model accuracy, application of new services through relearning, and flexible responses to new data using automated relearning. Indeed, we have successfully applied a deep learning model to improper transactions in credit card companies. In doing so, we have reached improvements that would not have been possible in conventional rule-based work, such as elevating the detection rate of improper transactions to over 90% and establishing an automated surveillance model based on new pattern learning. Furthermore, our AI solution has achieved 99% accuracy in insurance claim classification tasks posted by the Samsung Open Collaboration project, making our solution commendable as one of the major examples of AI insurance solutions.

We are currently expanding the Banking-as-a-Service (BaaS) Platform model across Southeast Asia, with an investment made by Fintech Innovation Fund, a joint project among major Korean banks (KB Kookmin Bank, KEB Hana Bank, Nonghyup Bank, Shinhan Bank, etc.). Such strategic partnership and funding have allowed AIZEN to attract a cumulative investment of KRW 10 billion, which, in turn, enabled the company to focus on providing AI financial services in the Southeast Asian market. We at AIZEN pledge to continue our commitment to delivering innovative AI finance models in 2021 as well.