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Samsung SDS to Push For Digital Finance Based on AI, Blockchain
A Platform for Digital Financial Services
Samsung SDS to Push For Digital Finance Based on AI, Blockchain
  • By Cho Jin-young
  • June 4, 2018, 17:55
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Hong Won-pyo, CEO of Samsung SDS, delivers his welcoming speech on Digital Financial Media Day held at the Jamsil campus in Songpa-gu, Seoul on June 4.
Hong Won-pyo, CEO of Samsung SDS, delivers his welcoming speech on Digital Financial Media Day held at the Jamsil campus in Songpa-gu, Seoul on June 4.

Samsung SDS will go ahead with the digital finance business based on artificial intelligence (AI) and blockchain technology.

"We are planning to move forward with the digital financial business through Nexfinance, a digital financial platform that combines proven and new technologies,” said Yoo Hong-jun, head of the Financial Division at Samsung SDS, on media day held on the Jamsil campus of Samsung SDS on June 4.

Nexfinance is a digital financial platform loaded with advanced IT technologies such as artificial intelligence, blockchains, big data analysis, and intelligent process automation.

Samsung SDS explained that Nexfinance would increase the competitiveness of digital financial services of financial institutions by providing services such as digital identity, financial concierge, and automatic insurance claim using an AI virtual assistant. The company has secured these technologies through its participation in digital innovation efforts of its financial sister companies.

The digital identity is a blockchain-based identification that can safely transmit personal information. The financial concierge is a financial asset management service that utilizes artificial intelligence and big data analysis.

The AI virtual assistant automatic insurance claim enables quick and convenient services for customers by automating financial institutions’ work.

"Nexfinance is a platform that allows the easy application of new IT technologies and various external solutions, allowing financial institutions to actively and flexibly respond to a rapidly changing financial IT environment," a Samsung SDS official said. "We provide the highest level of security by applying technology for forgery and falsification prevention and joint authentication based on blockchain technology."