PeopleFund Builds AI System... "Doubles Financial Fraud Detection Capability"

[Asia Economy Reporter Song Seung-seop] Online investment finance company PeopleFund announced on the 22nd that it will establish a ‘financial fraud detection system’ utilizing artificial intelligence technology.

Until now, PeopleFund has used financial fraud detection scores provided by credit bureaus (CB) to prevent financial fraud. The newly introduced system employs machine learning based on accumulated financial fraud know-how. By developing an algorithm that quickly detects even the latest types of financial fraud signs, it plans to double the detection capability. The system is being developed in collaboration with Megazone Cloud.

PeopleFund is building the new system to respond more agilely to the rapidly changing online loan fraud methods. Kang Min-seung, Chief Technology Officer (CTO) of PeopleFund, emphasized, “We will expand the introduction of AI technology across PeopleFund’s financial services” and “We aim to create a financial platform environment where users can invest with greater confidence.”

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