Shinhan Bank to use robots for loan applications

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Shinhan Bank to use robots for loan applications

Shinhan Bank, the largest bank in Korea, will introduce robotic process automation (RPA) in measuring credit scores and screening loan applications, the company said on Tuesday. The software will allow the bank to automate and simplify the review of applicants’ income and job status data. Shinhan said that the technology will speed up loan approvals.

“The RPA system will help us provide services more quickly and accurately,” a source at the bank said. “We are trying to advance digitalization of banking services by adopting AI technology.”

By Park Eun-jee
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