PFCT Supplies AI Solution 'Airpack' to Goryeo Savings Bank

"Adding Alternative Data... Expanding Market Share in the Online Loan Sector"

Artificial intelligence (AI) fintech company PFCT Technologies (PFCT) and Korea Savings Bank are strengthening their platform related to the online loan comparison market. They have decided to newly introduce an AI risk management solution. This solution is enhanced by utilizing alternative data as variables.

On the 12th, PFCT announced that Korea Savings Bank decided to newly adopt its AI solution 'Airpack.' PFCT will develop and supply the alternative data variable utilization solution to Korea Savings Bank as the first among its clients.

Airpack is an AI solution developed by PFCT to reduce personal credit loan delinquency and default rates. The AI algorithm analyzes optimal interest rates and limit conditions in real-time based on each financial institution's target default rate and approval rate. The AI devises the optimal loan approval strategy. It enhances customer discrimination by reflecting various alternative information as additional variables. By adding alternative data variables, the performance and discrimination power of the Airpack model are expected to improve.

Korea Savings Bank plans to use Airpack to strengthen competitiveness in this field as non-face-to-face loan screening has become important with the growth of the online loan comparison market. Through Airpack, they intend to secure high-quality customers by real-time monitoring of various loan indicators within the loan comparison platform, AI-optimized loan approval strategies, and risk solutions utilizing alternative information. This will help increase their market share.

Lee Suhwan, CEO of PFCT, said, "There have been almost no meaningful cases of using alternative data in the domestic financial sector so far," adding, "We will contribute to improving our clients' business performance through AI solutions that meaningfully reflect alternative data."