Shinhan Card, First in Financial Sector to Obtain AI+ Certification

Recognized by ISO&IEC International Standard System

[Asia Economy Reporter Ki Ha-young] Shinhan Card announced on the 14th that it has become the first in the financial sector to receive the 'AI Plus (AI+) Certification' for its artificial intelligence (AI) consultation service 'Chatbot' and the 'Hyper-Personalization Platform' that provides customized benefits according to each customer's individual situation.

The AI+ certification system is a program by the Korea Standards Association that verifies the quality of AI products in terms of reliability and stability based on international standards from the International Organization for Standardization (ISO) and the International Electrotechnical Commission (IEC).

The certification award ceremony held on the 14th at Shinhan Card headquarters in Euljiro, Seoul, was attended by Lee Sang-jin, Chairman of the Korea Standards Association, Lim Young-jin, President of Shinhan Card, and other officials from both organizations.

Launched commercially in June 2017, the AI chatbot FANi provides sales and consultation concierge services centered on personalized menus such as convenient everyday language conversations, question recommendation tips, and question auto-completion for about 400 frequently asked questions including customized card recommendations. The service is evolving with Shinhan Card's unique AI technology combined with 26.8 million big data to enhance natural language processing capabilities.

In particular, the Korea Standards Association stated that chatbot FANi received excellent evaluations for its high technological independence by utilizing a self-developed dialogue model aligned with the digital technology goal of expanding customers' digital experiences, and for the completeness of its conversational technology that can promptly respond to social issues such as COVID-19.

The hyper-personalization service introduced in May 2019 reorganizes data and marketing algorithms centered on customers, reflects changing external information such as weather and commercial districts in real time into the system, and applies AI algorithms that learn customer responses to marketing to improve the program. By accurately predicting customers' TPO (Time, Place, Occasion), it provides optimal customized benefits at the necessary time based on an exclusive platform, thereby maximizing real-time communication and convenience with customers, which was recognized as a distinctive AI service.

Additionally, Shinhan Card has shown prominence in creating AI innovation services based on big data linked to the government's Green New Deal policy, registering the largest number of products in the financial sector on the data exchange, and supporting small business owners' financial transactions through the industry's first launch of the MyCredit service. It is also actively responding to the MyData project, which will be fully implemented next year, and is working on business model and AI algorithm development at the Shinhan Financial Group level.

A Shinhan Card official said, "This certification is significant as it objectively recognizes that the digital transformation strategy, which the company has been promoting by consolidating its capabilities, is being successfully implemented," and added, "We will continue to develop AI new technologies and advance services from the customer's perspective in connection with Shinhan Financial Group's digital strategy."

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