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The banking industry has always been seeking new technology for the last few decades. 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.
The firm’s ABACUS AI platform specializes in retail banking and insurance, helping them automate key business value chains
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