PFCT Targets Vietnam with Alternative Data-Based AI Credit Evaluation

Strategic Partnership with Vietnamese Alternative Data Firm Hightech

PFCT announced on January 13 that it has signed a strategic partnership agreement (MOU) with Hightech, a Vietnamese alternative data fintech company. The company plans to expand the supply of artificial intelligence (AI) credit evaluation solutions and fintech business based on alternative data, with a focus on the Vietnamese market.

Lee Suhwan, CEO of PFCT (left), and Nguyen Nam Phong, CEO of Hightech, a Vietnamese alternative data specialized fintech company, are posing for a commemorative photo after signing a strategic partnership agreement (MOU) to supply artificial intelligence (AI) credit evaluation solutions and expand fintech business based on alternative data. PFCT

The agreement was signed at PFCT's headquarters in Seocho-gu, Seoul. Through this collaboration, both companies aim to enhance the accuracy of credit assessment at Vietnamese financial institutions and establish a locally tailored AI credit evaluation system that includes customer segments previously difficult to assess using only traditional financial data.

To achieve this, PFCT and Hightech will collaborate around two main business pillars.

First, the two companies will work together to supply AI credit evaluation solutions to Vietnamese financial institutions. PFCT will utilize consumer, income, and behavioral alternative data from Vietnam and Southeast Asia, held by Hightech, to develop and provide AI credit evaluation solutions optimized for the characteristics and risk structures of financial institutions' credit products.

Hightech will be responsible for local market analysis and identifying financial institution and fintech clients.

The companies will also cooperate in the alternative data-based credit evaluation and data product business, with clearly defined roles.

When Hightech launches data products based on alternative data collected locally, PFCT will participate as a core technology partner, providing AI credit evaluation models and technical infrastructure to analyze and assess the data.

Through this collaboration, Hightech will supply data products, including credit evaluation results, to the market, while PFCT plans to expand its business into the data business sector by leveraging its AI modeling and evaluation technologies.

In both business areas, PFCT's AI risk management solution 'AIRPAC' will be utilized. PFCT will be responsible for the entire process, from the design and development of AI credit evaluation models to operation, management, and maintenance, using AIRPAC. The company will also ensure that the solution can be flexibly applied to both external cloud environments and the internal server environments of local financial institutions.

PFCT stated that it has developed and supplied AI credit evaluation models and risk management solutions reflecting country- and product-specific characteristics for both domestic and international financial institutions.

Lee Suhwan, CEO of PFCT, said, "This agreement marks an important starting point for localizing and providing alternative data-based AI credit evaluation models and risk management solutions in the Vietnamese financial market. We aim to help Vietnamese financial institutions establish more sophisticated credit strategies and manage risk effectively, and, building on this, continuously expand our alternative data-driven financial solutions business throughout Southeast Asia."

Nguyen Nam Phong, CEO of Hightech, stated, "By combining Hightech’s accumulated high-quality alternative data with PFCT’s AI credit evaluation technology, we expect to enhance the value of data utilization and simultaneously improve the soundness and efficiency of the Vietnamese financial market."

Meanwhile, PFCT is developing and supplying customized AIRPAC solutions tailored to the financial environments and product characteristics of major domestic financial institutions as well as overseas institutions in countries such as Indonesia, Vietnam, and Australia.