KB Kookmin Bank Builds Digital Screening Platform Utilizing Big Data

Digital Screening Platform 'Corporate Credit Automatic Screening Support System (Bics)' Launch

[Asia Economy Reporter Kangwook Cho] KB Kookmin Bank announced on the 26th that it will launch a digital screening platform called the Corporate Credit Automatic Screening Support System (Bics, Big data CSS (Credit Scoring System)).

The Corporate Credit Automatic Screening Support System (Bics) is a system that automatically collects industry and business condition information related to corporate credit as well as the financial and non-financial information of companies to conduct screenings. It is designed to measure credit risk by reflecting KB Kookmin Bank’s corporate credit screening expertise, the latest analytical techniques, and digital technology utilizing big data.

In the Corporate Credit Automatic Screening Support System (Bics), to refine credit risk measurement, it checks not only the company’s credit rating but also loan period, the presence of collateral and default patterns, and the appropriateness of the borrowing scale.

KB Kookmin Bank explained that with the introduction of the Corporate Credit Automatic Screening Support System (Bics), the time for information collection and analysis is shortened, enabling swift and consistent decision-making, allowing employees to focus on screening capabilities, thereby enhancing risk management efficiency and asset soundness.

A KB Kookmin Bank official said, "With the advancement of digital technology, automation has been introduced even in the corporate credit screening area, which was traditionally considered a uniquely human domain in banking operations," adding, "The digitalization of corporate credit screening allows us to provide higher quality services to customers."

This content was produced with the assistance of AI translation services.