Banksalad can introduce a “low-interest loan proxy inquiry” service that applies for preliminary loan screening on customers’ behalf and provides information such as interest rates and limits. It works by searching for more favorable loan terms when there is a change in a customer’s credit transaction capacity. The company plans to use it as a key function of its loan artificial intelligence (AI) agent.

Banksalad said on Oct. 29 that its “low-interest loan proxy inquiry (agent) using mydata” service was newly designated as an innovative financial service by the Financial Services Commission.

The low-interest loan proxy inquiry service applies for preliminary loan screening on a customer’s behalf when the customer’s credit transaction capacity changes and notifies the customer of the results. Users can look for products with interest rates and limits that are favorable to them without repeatedly checking loan terms themselves.

Banksalad plans to reflect variables comprehensively to search for and guide users to more favorable loan terms. Once a customer delegates authority, the customer can check results without repeatedly applying for preliminary screening separately. The delegation can be withdrawn at any time.

The service is expected to be used as a core function of Banksalad’s loan AI agent initiative. The company also expects improved financial access for mid- and low-credit borrowers.

A Banksalad official said, “With this designation as an innovative financial service, we will lead efforts to create a financial platform environment where anyone can make easier and more rational decisions by using mydata and AI agent technology.”