DGB Daegu Bank Launches Fund Robo-Advisor Service 'Rody'

[Asia Economy Reporter Kangwook Cho] DGB Daegu Bank announced on the 8th that it will implement a non-face-to-face service for ‘Ro.D,’ a fund robo-advisor service based on artificial intelligence (AI).

A robo-advisor is a compound word of ‘Robot’ based on AI deep learning and ‘Advisor.’ ‘Ro.D’ is a fund service that recommends and manages the optimal fund portfolio reflecting customer investment tendencies and market conditions through AI algorithms.

Before launching the service, DGB Daegu Bank named the service Ro.D by combining ‘Ro’ from ‘Robot’ and ‘D’ from the abbreviation of ‘DGB Daegu Bank’ through an internal contest, lowering the entry barrier for customers with a friendly and easy-to-pronounce name and format.

The target customers for AI portfolio design by AI Ro.D are individual general investors, and the target products are public offering funds. The new amount is 100,000 KRW or more for installment savings and 1,000,000 KRW or more for lump-sum deposits, and it is available at all DGB Daegu Bank branches, IM Bank, and internet banking.

‘Ro.D,’ which provides customized portfolios that satisfy various customer needs through detailed customer investment tendency segmentation, diversification of investment regions centered on global, overseas, and domestic markets, selection of the number of funds, and design including existing held funds, applies the latest algorithm of the robo-advisor specialist company ‘Fount Co., Ltd.’ Through this, it analyzes big data such as economic indicators, market data, and asset prices to learn patterns and analyzes tens of thousands of scenarios composed of combinations of various variables to recommend the optimal fund portfolio suitable for market conditions.

In particular, as the first in the banking sector, it expanded customer choice by recommending not only the first-ranked fund selected by AI within the same asset class but also the second and third-ranked funds, and it is characterized by providing reasons for fund recommendations. In addition, to help customers respond to the changing global market, it provides global market conditions and issue notification services, regularly diagnoses portfolios, and continuously manages to improve customers’ investment returns through rebalancing that readjusts funds within the portfolio.

President Seonghoon Lim said, "Through Ro.D, customers who had difficulty managing funds due to asset size or time constraints will be able to easily and conveniently use a systematic portfolio management service through AI," and added, "We will lead the popularization of digital asset management through continuous upgrades in the future."

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