Kookmin Bank Builds AI System to Prevent Incomplete Sales
AI Analyzes Product Consultation Content in Real Time
Self-Checks for Incomplete Sales During Consultation Process
[Asia Economy Reporter Park Sun-mi] KB Kookmin Bank is set to implement an artificial intelligence (AI) financial consultation system to protect consumers ahead of the enforcement of the Financial Consumer Protection Act (FCP Act) starting from the 24th.
According to Kookmin Bank on the 23rd, the newly developed AI financial consultation system utilizes text-to-speech (TTS) technology that converts text data into voice files and speech-to-text (STT) technology that converts voice files into text data. TTS is used to verbally explain products to customers, while STT is employed to analyze recorded customer consultation information to verify any cases of incomplete sales. Notably, the speech recognition technology developed this time can achieve over 90% voice recognition accuracy after several months of training at branch offices.
The main functions of the AI financial consultation system include ▲automatic reading of product explanations ▲recommendation of products suitable for the customer's investment propensity ▲customized product explanations for customers ▲verification of prohibited words usage during consultations ▲automatic recording and saving of explanation content ▲monitoring of recording time and incomplete sales status ▲analysis of major types of incomplete sales, supporting branch employees in financial investment product consultations.
In addition to the automatic product explanation functions provided by other financial companies, this system can also provide market outlooks and guide suitable products. Furthermore, the AI can analyze new product consultation content in real time, enabling self-inspection for incomplete sales during the consultation process. If there is an error during the consultation, the AI financial consultation system immediately notifies the employee.
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A KB Kookmin Bank official stated, “The function to analyze new processes in real time and block incomplete sales is the first case in the banking sector,” adding, “The introduction of this system will further strengthen Kookmin Bank’s financial consumer protection.”
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