Applied a Proprietary Solution Jointly Developed with Hana Financial Convergence Technology Institute to Export and Import Operations
Early-Stage Exporters Seeking Overseas Expansion Can Easily Check and Supplement Export Document Deficiencies
Hana Bank announced on May 9 that it has launched the financial sector's first 'Non-face-to-face AI Export Bill Purchase Review' service for automating export and import processes.
In June of last year, Hana Bank introduced its proprietary AI-OCR solution, 'READIT', into its export and import operations. The solution was developed in-house through joint research with Hana Financial Convergence Technology Institute, an in-house independent company under Hana Financial TI, a Hana Financial Group affiliate.
This 'Non-face-to-face AI Export Bill Purchase Review' service is part of Hana Bank's 'AI Export and Import Automation Project'. By applying a solution developed entirely through Hana Financial Group's own research capabilities and proprietary technology, without relying on external solutions, the bank has achieved a more sustainable use of AI technology.
In particular, due to the unstructured and complex nature of export and import documents, the traditional export bill purchase review process had depended on letters of credit experts. Hana Bank has minimized errors that occurred in previous methods by enabling automated classification and rapid, accurate AI extraction of purchase information.
As a result, not only letter of credit non-experts and existing export-driven companies, but also early-stage exporters seeking to expand overseas can now easily check and supplement any deficiencies in their export documents.
This 'Non-face-to-face AI Export Bill Purchase Review' is initially available to corporate customers subject to head office review who use corporate internet banking. It allows them to check for document deficiencies before visiting a branch, thereby simplifying procedures and enabling fast and accurate verification of document compliance.
An official from Hana Bank's Foreign Exchange Business Support Department stated, "We are pleased to provide a differentiated trade automation service that reduces the risk of document deficiencies, which frequently occur in export operations." The official added, "As the leading bank in foreign exchange and export-import operations, Hana Bank will continue to offer innovative support to facilitate corporate export and import transactions through a customer-centric business culture."
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