Gwangju Bank Launches Robo-Advisor Fund Recommendation System 'KJ MyBot'

[Asia Economy Honam Reporting Headquarters Reporter Park Seon-gang] Gwangju Bank (President Song Jong-wook) announced on the 21st that it will implement the robo-advisor fund recommendation system service called ‘KJ MyBot’ on its smart banking (APP).

Robo-advisor, a compound word of Robot and Advisor, is an asset management service that provides services suitable for customers' preferences through big data analysis. Gwangju Bank signed a business agreement with Quarterback Technologies Co., Ltd. and has been providing robo-advisor asset management services at branch counters since 2018.

In particular, by introducing the ‘Three Bucket’ operation strategy, which calculates three levels of risk budgets?low risk, market risk, and high risk?considering the investor's risk propensity, the bank provides asset management services that offer customized products to customers ranging from savings and deposit products to investment products.

Gwangju Bank has now introduced the robo-advisor asset management service on smart banking as well.

This service, called ‘KJ MyBot,’ is a financial technology strategy actively responding to the low-interest-rate era. It provides a portfolio composed only of financial investment products such as index funds, global asset allocation funds, and theme strategy products to increase customers' investment profitability. The algorithm provided by Quarterback Technologies Co., Ltd. analyzes market conditions and big data and recommends fund products suitable for the investor's preferences.

As digital finance rapidly evolves and the financial environment changes drastically, and with the prolonged COVID-19 pandemic spreading the untact culture, demand for digital and non-face-to-face financial transactions is surging. Under these circumstances, Gwangju Bank’s ‘KJ MyBot’ service is expected to receive great response as customers can receive product recommendations matching their investment preferences and conveniently subscribe using just a smartphone without visiting the bank.

Jang Jin-seop, head of WM Business Division at Gwangju Bank, said, “Through ‘KJ MyBot,’ we will do our best to present effective asset allocation and optimal investment portfolios tailored to customers’ investment preferences and market conditions.” He added, “We will become Gwangju Bank that leads digital financial innovation to provide customers with convenient financial life and smart asset management services.”

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