Finda Launches Industry's First AI Loan Prediction Service

Presenting Expected Loan Terms Without Credit Limit Inquiry

Fintech (finance + technology) company Finda announced on June 9 that it has launched an artificial intelligence (AI) loan prediction service.

This service is an advanced version of the 'interest rate change notification service' that Finda launched in November last year, enhanced through 'MyData' and Finda's AI technology.

Users can check the loan terms they are eligible for without having to conduct a credit limit inquiry.

By categorizing the loan trends of more than 3 million users into similar clusters, Finda has introduced a personalized prediction model. This allows users to check not only the approval possibilities for Finda's loan products but also for products not available on Finda.

In addition to loan contract details within Finda, users can utilize MyData to view the loan terms of people with similar profiles who have signed contracts in the past month. They can check the top three product terms each by interest rate and by credit limit.

The predicted loan terms on the service are automatically updated every morning at 7 a.m. Users can not only identify the latest loan conditions available to them but also see how their own conditions have changed. An alert service is provided every two weeks so users can review the latest prediction results.

Park Hongmin, Co-CEO of Finda, said, "Our goal is not just to present favorable terms, but to become the most trusted guide at the very starting point of the customer's loan journey," adding, "The paradigm will shift from an era where users compare loan terms themselves to an era where AI finds the best terms for them first."

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