LG Uplus said on the 24th that, together with Welcome Savings Bank, it developed and officially launched the savings bank industry's first "AI finance assistant" incorporating Generative AI technology.
Applied to Welcome Savings Bank's mobile app "Welcome Digital Bank (WelBank)," the "AI finance assistant" is based on EXAONE (LG AI Research), a large language model from LG AI Research, and Welcome Savings Bank's data.
With the introduction of this AI finance assistant, Welcome Savings Bank customers can handle financial tasks by entering voice or text in everyday language without navigating complex menus. For example, if a customer asks, "Tell me the details of what I paid for yesterday," the transaction details can be checked immediately. They can also perform common financial tasks such as transfers, account inquiries, and transaction history checks, receive tailored responses based on their usage history and financial data, and use functions that summarize and analyze financial information. Security was also strengthened by designing a final confirmation step when executing transactions, taking into account the characteristics of the app service operating 24 hours a day.
The AI finance assistant was applied on the 23rd of last month and underwent a pilot operation for about a month. The company said it received high marks especially among customers in their 60s and older, as they could perform tasks such as checking financial information and making transfers using only voice commands, even if they were not familiar with using the app.
LG Uplus and Welcome Savings Bank plan to begin enhancing the performance of the AI finance assistant based on feedback secured during the pilot period and to strengthen its ability to understand conversational context and handle complex queries by sequentially applying the latest AI models.
Ahn Hyeong-gyun, LG Uplus Enterprise AI Business Group head (senior managing director), said, "This finance assistant launch is a meaningful case where AI technology optimized for Korea based on EXAONE and Welcome Savings Bank's drive for innovation have come together," adding, "We will expand Conversational AI services across the financial sector, including insurance, securities, and cards."
Kwon Young-gwan, head of the AIC Service Division at Welcome Savings Bank (executive director), said, "The AI finance assistant will fundamentally change how financial services are provided," adding, "This realizes 'menu-less banking,' which allows people to use finance through speech or text, and Welcome Savings Bank will continue to establish itself as a financial services company based on AI and IT that provides customers with more innovative and convenient financial services."