Busan Bank Introduces AI-Based Alternative Credit Scoring Model... "We Will Reduce Financial Blind Spots"

Multidimensional Assessment of Repayment Capacity Through Analysis of Non-Financial Data

BNK Busan Bank announced on the 23rd that it will fully introduce an artificial intelligence (AI)-based "alternative credit scoring model" to complement its existing credit evaluation method, which has focused on financial information.

By utilizing the alternative credit scoring model, the bank can analyze not only traditional financial histories but also non-financial information such as records of utility bill payments, allowing it to assess customers' repayment capacity in a more multidimensional way.

Until now, customers with insufficient financial transaction histories, or with a record of credit deterioration over a certain period, have in some cases faced restrictions in accessing institutional financial services.

Busan Bank plans to use the introduction of this model to overcome the limitations of its existing model and enhance financial accessibility for customers who have substantial repayment capacity in real terms.

Jang Inho, Head of the Retail Customer Group at Busan Bank, said, "The introduction of alternative credit scoring is not only about advancing risk management, but also about ensuring that more customers gain access to financial opportunities," adding, "We will continue to improve our evaluation system so that we can reduce financial blind spots and enable a wider range of customers to use institutional financial services."