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AI & Enterprise
Techfin Ratings, KCB to jointly pursue corporate CB business
Douzone Bizon said its fintech affiliate Techfin Ratings signed an MOU with Korea Credit Bureau to jointly pursue a corporate credit bureau business. The two companies plan to combine data, networks of financial firms and corporate evaluation capabilities to build a new system for corporate assessment and supply chain finance in South Korea. They also plan joint research, business model development, marketing and external communications.
Finance
Jeju Bank files patent for AI-based cash flow forecasting model
Jeju Bank has filed a patent application for a core technology used in its AI-based corporate cash management service, AI CFO. The technology combines companies’ ERP data with financial data to forecast future cash inflows and outflows and ease cash management burdens for small and medium-sized enterprises. The bank said it is the first regional bank to file a patent for an AI-based future cash flow forecasting model.
AI & Enterprise
Techfin Ratings launches monthly financial statements service
Techfin Ratings, a fintech-focused affiliate of Duzon Bizon, launched a service on Wednesday to calculate “monthly financial statements” that help assess corporate financial soundness on a timely basis. The service breaks down evaluation methods that relied on annual settlement data into monthly units. The company said its AI algorithm, developed using bookkeeping data, achieved more than 90 percent consistency based on operating profit. Techfin Ratings also signed a data supply deal with Shinhan Bank.