To Cooperate with IBK in Developing AI Fintech Platform
42Maru, a Korean artificial intelligence (AI) startup specializing in question-answering platform, announced on Jan. 7 that it has been selected for Industrial Bank of Korea’s acceleration program "IBK Changgong."
The program provides customized assistance to startups for each stage of growth by actively utilizing IBK’s know-how in small and medium-sized business finance, consulting capabilities, and global networks.
The program will select a total of 60 companies in the first half of 2021, 20 each from Mapo and Guro districts of Seoul, and Busan, through document review and presentation evaluation.
IBK provides a wide range of assistance helpful to startups, including financial support, dedicated office space, 1:1 mentoring, and on/offline market development.
42Maru is an artificial intelligence-based startup that develops Deep Semantic QA, a Question Answering platform that gains a semantic understanding of the intention of the user’s query based on natural language processing and derives ‘single answer’ from structured data as well as vast unstructured data.
Based on deep-learning machine reading comprehension (MRC) and text analytics (TA) technologies, the company is providing SaaS-based enterprise business analytics (BA) platform that identifies business issues and causes, proactively detects potential risk factors in areas of semantic knowledge management system (KMS), digital transformation, and AI-based chatbots.
42Maru has been working with several major financial groups since last year, and will cooperate with IBK in innovative AI-based fintech services such as financial data analysis, financial SW and fintech platforms.
42Maru CEO kim Dong-hwan said, “The RegTech and SupTech platforms based on our unique AI-based text analytics technology, are cooperating in using the leading financial group’s fintech platform as a key unit in detecting abnormal transactions and detecting money laundering.”
“In particular, we hope that 42Maru’s leading AI technology will be combined with various fintech services based on actual support from IBK. It will provide an opportunity to introduce advanced financial platform for the know your customer procedure and anti-money laundering.”