Eugene Investment & Securities Utilizes AI for Financial Product Explanations as Well

[Photo by Eugene Investment & Securities]

[Asia Economy Reporter Lee Jung-yoon] Eugene Investment & Securities announced on the 10th that it has introduced a financial product explanation system incorporating artificial intelligence (AI) technology to prevent incomplete sales of financial products and strengthen the protection of financial consumers.

This system is based on an AI virtual human engine and advanced Text To Speech (TTS) technology. When financial product-related text is input into the system, the virtual human implemented with AI technology explains the content with natural voice and motion. Eugene Investment & Securities sales staff will use this AI explanation content alongside face-to-face explanations when selling financial products.

Eugene Investment & Securities plans to actively utilize this system to prevent incomplete sales. Financial companies must notify investors not only of expected returns but also of the possibility of principal loss and potential risks when selling investment products. Although consultation manuals are in place, there was a need to minimize misinformation caused by differences in employees’ explanation methods during this process, and this system is expected to fulfill that role.

Furthermore, this system is anticipated to contribute to improving customer satisfaction. The immersive content delivery method of the AI explanation content can enhance customers’ understanding of products. When Eugene Investment & Securities tested the system with derivative-linked bonds (ELB) products, it was found that about 30 pages of investment prospectus content could be converted into a 10-minute video.

Additionally, by reducing the basic explanation burden, the AI explanation content is expected to help sales staff emphasize key points or actively respond to additional inquiries, facilitating customer-tailored consultations.

Kim Gu-hwan, Head of Financial Consumer Protection at Eugene Investment & Securities, stated, "With the introduction of this system, we will reorganize the financial product sales process and make our best efforts to fulfill the duty of proper explanation, thereby contributing to the protection of financial consumers’ rights and the establishment of a sound investment culture."

He added, "Starting from December this year, with the enforcement of the revised Door-to-Door Sales Act, environments where customers can be met and financial product solicitation and sales contracts can be concluded outside financial company branches will be established, making it even more important to provide customers with accurate and proper explanations. We expect that the introduction of this system will serve as an opportunity to provide customers with conditions to better understand and invest in financial products."

Eugene Investment & Securities plans to first apply this system to private equity funds, derivative-linked products (ELS, ELB), and Contracts for Difference (CFD) from this month, and then gradually expand its application scope.

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