On the 12th, PFCT (PFC Technologies), a technology finance company specializing in artificial intelligence (AI), announced that it will supply its risk management solution to Korea Savings Bank.
The 'Airpack,' which PFCT has decided to provide to Korea Savings Bank, is an AI risk management solution developed in-house to reduce the arrears and default rates of personal credit loans. The AI algorithm analyzes optimal interest and limit conditions in real-time based on the target delinquency and approval rates of each financial company and presents the best loan approval strategy based on this.
Additionally, it has the advantage of improving customer differentiation by incorporating various alternative information as additional variables. In particular, this solution supply includes alternative data for the first time among client companies. The performance and discrimination capability of the Airpack model is expected to be significantly enhanced.
Korea Savings Bank plans to utilize Airpack to strengthen its competitiveness and business growth in the rapidly growing online loan comparison market facing a non-face-to-face loan screening environment. The bank aims to secure high-quality customers and expand market share based on real-time monitoring of various loan indicators generated from loan comparison platforms and optimized loan approval strategies and alternative information using AI.
Lee Su-hwan, CEO of PFCT, noted, "There have been almost no meaningful cases of using alternative data in the domestic financial sector until now," and emphasized, "Starting with the Airpack for Korea Savings Bank, we will create results that meaningfully reflect alternative data in AI risk management solutions and contribute to the business performance of our clients."