SEOUL, Dec. 9 (Korea Bizwire) — With financial regulators placing bigger emphasis on strengthening consumer protection, Hyundai Motor Group’s two affiliates have set up a special artificial intelligence (AI)-based system to prevent the so-called ‘incomplete sale’ of financial products.
Hyundai Card Co., a leading credit card issuer in South Korea, said Wednesday that it had established a sale monitoring system using AI consultants, a first among domestic credit card companies, as a way to protect financial consumers.
AI consultants will play the role of preventing incomplete sales by calling those signing up for financial products such as card loans and revolving cards to check if they fully understand the financial products as well as to explain any areas they lack understanding in.
Hyundai Capital Services Inc., an auto finance company, also announced on the same day that it had established an ‘AI automatic happy call’ system to reduce incomplete sales, a first among domestic financial services companies.
The system features voice recognition technology and an AI engine that enables communication with customers.
AI consultants will play the role of explaining the main contents of financial products to customers, while listening to customer opinions after checking if they are suffering from financial fraud.
During this process, when customers have a misunderstanding of the financial products or financial fraud is suspected, the salespersons in charge should contact them to correct the problems.
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