Shinhan Bank to use robots for loan applications
Korea JoongAng Daily

Home > Business > Finance

print dictionary print

Shinhan Bank to use robots for loan applications

Published: 15 Aug. 2017, 19:23
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
tags

More in Finance

Korea to impose 90-day repayment window on institutional short sellers

Shares break three-day losing streak, Korea Zinc shoots up

Geopolitical tensions keep Kospi flat in early trading

Korea Zinc shares surge as MBK Partners’ tender offer nears expiration

Insurance gains lift Korean financial firms' profits by 3.3%

Related Stories

Ex-Trump official calls IAEA chief's proposal on North Korea nukes a 'dicey question'

Defector steals village bus to return to North Korea, citing difficult life in the South

KT Wiz beat SSG Landers to take final KBO postseason ticket

New EASL season to tip-off with Suwon KT Sonicboom taking on San Miguel Beermen

Gwangju, Ulsan ACLE match locations unconfirmed as K League pitch quality faces criticism
Log in to Twitter or Facebook account to connect
with the Korea JoongAng Daily
help-image Social comment?
s
lock icon

To write comments, please log in to one of the accounts.

Standards Board Policy (0/250자)