Hyundai Capital Launches Consumer Protection Early Warning System 2.0

[Asia Economy Reporter Yu Je-hoon] Hyundai Capital announced on the 20th that it will newly launch the 'Consumer Protection Early Warning System (CaM·Canary Maestro) 2.0' to strengthen consumer protection activities.

Hyundai Capital operates CaM, which utilizes big data to protect the rights and interests of financial consumers and prevent risks. CaM is named after the canary, a bird used in coal mines to detect harmful gases and alert miners of abnormal signs. It refers to a monitoring system that detects and prevents consumer risks in advance.

Through this system, Hyundai Capital continuously monitors and manages four major areas: compliance with laws and internal regulations, checking risks of incomplete sales and financial accidents, and abnormalities in the overall IT operation system. When problems are detected through continuous monitoring, the information is automatically delivered to the person in charge, and preemptive measures are taken to prevent risks from being transferred to consumers.

In particular, Hyundai Capital has further advanced the existing system to build CaM 2.0. CaM 2.0 expands the scope of risks that may occur to consumers and improves the ability to detect anticipated risks more precisely. Additionally, the number of monitoring items has been expanded from 246 to 704 for real-time inspection, and if new predicted risks arise, they are immediately registered in CaM to start monitoring within one hour.

Moreover, CaM 2.0 actively manages risks that may occur to consumers by tracking whether the information provided through monitoring has been acted upon in a timely manner. With the launch of CaM 2.0, Hyundai Capital implemented the 'CaM 2.0 Dashboard' to allow employees to frequently check the monitoring status, thereby fostering awareness and efforts to recognize and prevent risks that may occur to consumers.

Jeon Bo-seong, Executive Director in charge of IT at Hyundai Capital, said, "Through the CaM 2.0 system, we are predicting and inspecting even the potential risks that consumers may face while using financial services." He added, "We will continue to do our best to enable consumers to use Hyundai Capital's financial services more safely and conveniently through the development of digital technologies."

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