IBK Industrial Bank Introduces AI-Based Technology Evaluation: "Looking Beyond Financials to Growth Potential"

IBK Industrial Bank of Korea is set to launch a new framework for identifying technology companies by leveraging artificial intelligence (AI) and big data, moving beyond the traditional finance-centered corporate evaluation model. The strategy aims to strengthen "productive finance" support by identifying companies with high growth potential at an early stage.

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On March 23, IBK Industrial Bank of Korea announced that it has completed the development of a new technology evaluation system based on big data and AI technology, and will begin supporting technology-driven companies. The new system features a "future growth model" at its core, which quantifies a company's growth potential by comprehensively analyzing a range of non-financial data, including technological capability, employment, and research and development (R&D) investment, rather than relying solely on financial statements. This allows the bank to proactively identify innovative companies that may lack strong financial performance but possess robust technological competitiveness and growth potential.

The bank has also introduced external information scraping technology. By automatically collecting companies' technology management achievements and building a corporate growth database (DB) composed of patent and R&D achievements, IBK plans to use this resource for customized financial support and consulting tailored to each stage of corporate growth. In addition, the system will be applied not only to technology finance evaluations, but also to IBK Venture Loans, IBK Changgong startup selection, and other innovation finance programs. Through this, the bank intends to enhance the effectiveness of its SME support and strengthen its policy finance functions. A representative of IBK stated, "Through this new system, we will actively discover outstanding technology companies that have been underserved in terms of financial support," adding, "By expanding our support for technology companies, we aim to lead the way in productive finance."

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