IBK partners with SK Telecom on AR and big data analysis

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IBK partners with SK Telecom on AR and big data analysis

The Industrial Bank of Korea (IBK), a state-run lender, partnered with SK Telecom (SKT) to cooperate on big data analysis and augmented reality, the two companies announced on Wednesday.

The mobile carrier’s data on communication expenses will be used in IBK’s new lending services, tailored for small- and medium-sized enterprises (SMEs).

T Map, the telecom company’s popular navigation app, will also provide real-time information on bank branches, such as waiting times.

The bank will deploy SK Telecom’s augmented and virtual reality technology to build a branch with little human presence.

By Park Eun-jee

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