Woori Bank is introducing a service that uses generative AI to diagnose customers' debt conditions and provide tailored financial solutions. By combining MyData and AI, it aims to help customers easily check their debt burden and find ways to improve it.

Woori Bank said on June 11 it is launching the "AI Inclusive Debt Diagnosis" service, which comprehensively assesses customers’ credit, debt and spending conditions.

The service analyzes factors including interest rates on unsecured loans, KCB credit scores and repayment burden relative to income. It displays results in the stages of "seed-growth-tree" so customers can check their debt status intuitively.

It also presents tailored action plans based on customers’ age group and financial situation. For customers using high-interest loans, it provides guidance on systems that can reduce interest burdens, including government-backed financial products for ordinary people, refinancing loans and the right to request interest-rate reductions.

For young people, it provides housing-related financial information, and for middle-aged customers it offers information on debt management and asset building. For senior customers, it provides financial fraud prevention and integrated asset management.

Jae-beom Cha (차재범), deputy general manager of Woori Bank's ESG Mutual Growth Finance Department, said the service was prepared to help customers accurately understand their debt conditions and manage their financial burdens themselves. He said the bank will expand financial services that combine AI technology and inclusive finance to support easing customers’ financial burdens.