NH Nonghyup Bank, First in Financial Sector to Introduce AI for Incomplete Sales Inspection
Enhancement of Inspection for Incomplete Sales of AI Robot-Based Investment Products
[Asia Economy Reporter Park Sun-mi] NH Nonghyup Bank announced on the 5th that it has completed the ‘Investment Product Mis-selling Inspection Enhancement Project’ through the first-ever AI (Artificial Intelligence) technology-based RPA (Robotic Process Automation) system in the financial sector.
RPA refers to robots performing repetitive, standardizable, and rule-based tasks that humans usually do. This ‘Investment Product Mis-selling Inspection Enhancement Project,’ a collaboration between Nonghyup Bank’s Wealth Management Division (WM) and Digital Strategy Department, replaces the existing manual inspection tasks with automated robots, improving the accuracy and efficiency of detecting mis-selling.
The AI-based automated robots are used for post-management of mis-selling by inspecting thousands of investment product transaction applications daily from branches nationwide, including ▲extracting incomplete document items ▲communicating deficiencies to branches and ensuring corrections. The inspection results are utilized as training materials for employees, significantly contributing to the goal of zero mis-selling.
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Bank President Son Byung-hwan said, “With the introduction of this automated system, we hope to restore customers’ trust in investment product sellers amid recent controversies over mis-selling,” adding, “We will further accelerate the realization of a customer-centered digital human bank by actively utilizing digital new technologies including RPA.”
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