Kyobo Securities announced on the 2nd that its retirement pension robo-advisor (RA) equipped with artificial intelligence (AI) algorithms has been designated as an innovative financial service by the Financial Services Commission.
Since the end of last year, Kyobo Securities has formed a consortium in collaboration with Kyobo DTS and has been recognized for its achievements in passing the 22nd robo-advisor testbed review hosted by Korea Securities Depository, in addition to evaluations of security and stability.
Kyobo Securities expects that this designation as an innovative financial service will further enhance cooperation among the group affiliates in the new business sector aimed at digital innovation within Kyobo Group.
Additionally, Kyobo Securities plans to launch a discretionary AI retirement pension service reflecting retirement pension regulatory requirements and U.S. exchange-traded funds (ETFs) in the first half of this year to target the pension market. The company also aims to build a system that maximizes investment performance in response to market changes by monitoring investment results that reflect customer tendencies and analyzing big data.
Cho Sung-ho, head of the asset management division at Kyobo Securities, noted, "The designation as an innovative financial service will be a pillar for accelerating digital innovation within Kyobo Group and will enhance competitiveness in the pension market."