Shinhan Bank Launches Korea's First GPT-Based "Export Document AI Screening" Service

First Application of AI to Export Bill Purchase Review
Expansion of AI Across All Foreign Exchange Operations Including Import Letters of Credit and Remittances

Shinhan Bank announced on December 9 that it has launched the nation's first "Export Bill Purchase AI Screening Service" utilizing OpenAI's GPT model.

This service was implemented following its designation as an innovative financial service by the Financial Services Commission in April this year, and after passing a security evaluation by the Financial Security Institute in November. It marks the first case in Korea of applying a generative AI model to international trade finance review work.

Previously, export companies had to submit documents to their banks and wait for a detailed review based on international standards (UCP, ISBP) before receiving funds, which took a certain amount of time. However, with the introduction of this AI screening, the document review process is now automated, reducing the review time and also lowering defect risk, which had been one of the main burdens for exporters.

Shinhan Bank expects that the introduction of this service will reduce the work burden on branch staff and help create an environment where they can focus on consulting and support work for corporate clients. The bank plans to gradually expand the use of AI not only across all export-related work but also in various foreign exchange business areas such as import letters of credit and remittances.

A Shinhan Bank official stated, "This AI screening service is a practical innovation that goes beyond simple work automation by supporting exporters in quickly collecting payments," adding, "We will continue to integrate AI technology throughout the financial sector to enhance both convenience and competitiveness for our corporate clients."

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