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Finance

Banksalad develops AI controls to prevent financial transaction errors, files three patents

Banksalad has developed technology to control incorrect financial judgments and transaction execution by AI agents and has filed three related patent applications. The system establishes verification procedures to prevent transactions that could disadvantage customers when AI misanalyses product information or makes calculation errors. The technology focuses on execution-target assessment, numerical verification and execution control to address AI hallucination errors. The filings are at the application stage, not patent registration.

Finance

KakaoBank enters group loan market with mobile balance-payment mortgage loans

KakaoBank is launching a balance-payment mortgage loan for buyers moving into newly built apartments, expanding its non-face-to-face mortgage business into the group loan market. Customers can handle the entire process on mobile, from checking limits and rates to disbursement. Eligible borrowers are general-sale contract holders at designated complexes. Loan limits are up to 1 billion won under regulations, with maturities up to 40 years and no early repayment fees.

Finance

Loan \'open run\' pushes household loan cap to double, expanding banks\' lending room to around 60 trillion won

South Korea has sharply eased its policy of managing the total volume of household loans after six months, doubling this year’s household loan growth target to 3 percent from 1.5 percent. The change is expected to expand the financial sector’s annual room to increase lending to around 60 trillion won from about 30 trillion won. Authorities said the move aims to ease disruptions for real demand borrowers after banks restricted loan applications to meet annual caps.