KakaoBank said on Tuesday it has added an 'AI gathering treasurer' feature to its group account service.

KakaoBank's group account, launched in December 2018, had 12.2 million users and 10.5 trillion won in balances as of the end of the third quarter this year.

The 'AI gathering treasurer' performs key tasks typically handled by a treasurer. For example, when asked, "Who hasn't paid dues this month?" it provides an easy-to-read summary including total deposits, a list of non-payers, the number of non-payers and the payment deadline.

It also goes beyond simple deposit and withdrawal checks by offering spending analysis by period and merchant, consumption patterns and insights to raise the level of group management.

Alongside the update, KakaoBank is overhauling its UI and UX and introducing a new dedicated home screen for group accounts. It rearranged a screen that had been the same as its standard deposit and withdrawal accounts into a group-management-focused structure and improved convenience. In the newly added group-management area, users can view the AI gathering treasurer and the group board in one place.

To mark the revamp, it will also run an event from Dec. 17 to Jan. 6.

During the event period, it will select 2,000 customers by lottery from those who complete "Visit the new group account home" and "Chat with the AI gathering treasurer" and provide 'hotel cake (1,000)' and 'group support funds of 50,000 won (1,000)'.

It will also provide 1,000 won in cashback as 'group start cheering funds' to every group that newly opens a group account during the period and invites at least 1 member. In addition, it will select 500 groups by lottery and pay 'group support funds' of 50,000 won.

KakaoBank said, "We added an AI-based service and newly configured the home screen so that customers of the group account used by more than 12 million people can use it more conveniently." It added, "We will expand AI applications to various financial products beyond the group account in the future to provide customers with a differentiated financial experience."