The Banking industry globally is realizing the importance of incorporation of Artificial Intelligence (AI) in the business process. Korean FinTech startup AIZEN is leading in providing AI-technology combined with expert financial knowledge to improve the banking industry business. AIZEN’s core AI engine ABACUS, provides business-focused AI applications across key value chains in Finance.
Helping Financial Institutions make wiser decisions
ABACUS automates key decision-making process with AI predictive models flexibly reflecting the credit life cycle. ABACUS platform helps retail banking and insurance by automating key systems. AIZEN’s AI platform’s specialty is that it can automate big data analysis and predict key financial patterns. This enables financial institutions that use big data analytics to understand key changes in the business environment.
ABACUS is basically an automated AI/ML decision-making platform that specializes in core value chains product development, marketing, risk management, etc. useful for Banking and Insurance. It combines and converts data into finance-oriented ‘credit’ data. Financial institutions and banks can dynamically build, monitor, update and deploy thousands of predictive models using a single platform. This helps them decrease high-risk rates and increase the target clientele.
AIZEN also connects Retail Banking and Capital Market for new AI fixed income asset class for global institutional investors (e.g. pension fund, sovereign wealth fund, etc). Also applied for Internet Bank consortium in Korea with major telecom and e-commerce platform to build massive scale of predictive models using multiple sources of data.
Strong team, high-profile clients & world-class service
The core team of AIZEN consists of world-class AI experts who are constantly looking at the advancement in AI technologies at Seoul National University. The startup also has a joint research team at KAIST (Korea Advanced Institute of Science and Technology) who have done research on AI with IBM Watson.
The startup that was founded in 2016 has received many accolades and has been funded by top tier banks and Venture Capitalists in Korea and an asset management company from Hong Kong. AIZEN has successfully implemented its AI system at Korea’s leading bank Woori Bank with $300 billion worth of assets. The firm is actively working with the Korean government to create better finance system using AI. AIZEN has already gained tractions in Hong Kong by winning the 1st Place at Hong Kong Fintech Week 2018, and selected as Top10 Fintech companies by Standard Chartered Bank Hong Kong and Supercharger Accelerator Program. AIZEN is rapidly expanding its presence as a global AI-Finance leader in South Korea, Japan, Singapore and the UK.
AIZEN team will be presenting their service at RISE Tech Conference to be held from July 8 to 11 in Hongkong. The Conference is supported by the Korea Institute of Startups & Entrepreneurship Development(KISED). The “RISE Tech Conference” attracts many prominent leaders from global companies, major media outlets and influential investors.