AI Investment Fount, Korea Development Bank Retirement Pension Fund Management

[Asia Economy Reporter Minji Lee] AI investment specialist company Fount announced on the 14th that it has been finally selected as the robo-advisor engine supplier for the Korea Development Bank's retirement pension fund management.

Korea Development Bank, which operates and manages retirement pensions for corporate and individual clients as a retirement pension provider, issued a bid announcement in October for a 'robo-advisor engine and platform' to introduce a robo-advisor system aimed at improving returns and achieving target performance to support customers' stable retirement asset growth.

With Fount being finally selected as the robo-advisor engine supplier, the two companies plan to actively cooperate to enhance returns for defined contribution (DC) and individual retirement pension (IRP) customers as well as ensure safe retirement asset management based on Fount's artificial intelligence (AI) fund management solution. Fount plans to complete development by the end of May 2022 and launch full-scale customer services starting in June.

A robo-advisor is an asset management service that automatically recommends portfolios according to individual investors' investment preferences based on technologies such as big data analysis, known as an optimized investment methodology for managing pension assets that require long-term operation.

Fount's fund management service has already been adopted by commercial banks, insurance companies, and others to provide services to customers. Customers who have joined variable insurance funds at Woori Bank's retirement pension, Samsung Life Insurance, Hanwha Life Insurance, MetLife, and Daegu Bank can easily and conveniently manage funds and receive portfolio recommendations and changes (rebalancing) through their own apps or KakaoTalk according to global market conditions. In addition, by providing reports on fund recommendation reasons and global issues, it has increased customers' interest and participation in their assets.

Fount CEO Youngbin Kim said, "Following Woori Bank, the adoption of Fount's artificial intelligence (AI) fund management solution by the government policy bank Korea Development Bank is proof that our technological competitiveness is increasingly recognized in the primary financial sector," adding, "To capture the retirement pension market exceeding 255 trillion won as of the end of last year, we will make company-wide efforts to ensure stable retirement asset management by fully utilizing the AI technology know-how accumulated through collaboration with over 20 financial institutions."

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