One of the leading banking-as-a-service (BaaS) providers in the Southeast Asian market – AIZEN – introduced the banking service using “AI Core-Tech” in a dynamic environment with ChatGPT
South Korean fintech AIZEN Global has announced the banking service using “AI Core-Tech” in a dynamic environment with ChatGPT.
The company operates under the Banking-as-a-Service model, offering AI Lending Platform CreditConnect, powered by its proprietary AutoML platform ABACUS. The service has AI incorporated into the core technology required for the credit model and the value chain of credit provision.
ABACUS automates key decision-making processes with AI predictive models flexibly reflecting the credit life cycle. Therefore, data platform customers can access banking services at a reasonable interest rate, and financial institutions are able to acquire new customers.
CreditConnect is a type of banking service for nonfinancial platforms such as e-wallets, education, hospitals, and shopping. It focuses on the “loan cycle,” quickly calculating interest rates and loan limits for each client and offering the right loan services. Besides, AIZEN’s BaaS product “connects” financial institutions traditionally through data integration, allowing data platforms to launch finance services and financial institutions to secure customer loyalty quickly.
AIZEN has provided various BaaS solutions to the financial IT for banks, insurance companies, and credit card companies, applying AI to core areas of finance such as digital strategies, fraud detection, and credit evaluation. In Vietnam and Indonesia, the company entered the e-commerce and EV markets, respectively, combining non-financial and financial data through AI and decision-making based on AI models.
The company predicts the advent of ChatGPT will bring many changes to the areas of education, science and technology, as well as finance. For instance, it is expected to quickly impact customer support, document processing, and provision of personalized financial information in fintech.