Antock Director Park Young-joon (right), who won the 'Seoul Mayor's Award' at the '3rd Innovation Challenge Awards' held at Conrad Seoul in Yeouido, Yeongdeungpo-gu, Seoul on the 8th, is taking a commemorative photo with Seoul Mayor Oh Se-hoon. /Photo courtesy = Antock
Financial big data AI (artificial intelligence) analysis company AntockTechnology was recognized at this global fintech event. It received high praise as a loan demand forecasting solution based on an alternative credit evaluation model.
According to the relevant industry on the 9th Antockwon the 'Seoul Mayor's Award' at the '3rd Finovation Challenge Awards' held at Conrad Seoul in Yeouido, Yeongdeungpo-gu, Seoul on the 8th. The Innovation Challenge Awards is an event co-hosted by Seoul City with Shinhan Bank, Shinhan Card, and Shinhan Investment Securities. It was organized as part of the 'Seoul Fintech Week 2024' event.
Seoul selected 6 companies to collaborate with financial companies after screening 205 companies that applied for the renovation challenge awards in May. Since then, the six companies collaborated with departments related to Shinhan Bank, Shinhan Card, and Shinhan Investment Securities for about 3 months, and received support for development programs from Seoul Fintech Lab and Shinhan Futures Lab.
Curated content service Tenfinger (Shinhan Innovation Award) and Edufintech service Lemon Tree (Finovation Award) won the final winners, including Double Antock. With this win AntockIt received an investment promotion opportunity of 10 million won and was eligible to move into Seoul Fintech Lab or Shinhan Futures Lab. We are also collaborating with financial companies.
AntockWe collaborated with Shinhan Bank on a loan demand forecasting system. It is a function that finds companies that are in demand for loans from among small and medium-sized enterprises and superior companies. It is possible to strengthen risk management capabilities for small and medium-sized business loans and discover new customers that have been difficult with bank evaluation standards.
Antock's alternative credit evaluation model 'PULSE' (PULSE) /Photo courtesy = Antock
The loan demand forecasting system is based on EnTalk's alternative credit evaluation model 'PULSE' (PULSE). Pulse is a solution that measures credit evaluations, which previously relied only on financial data, with non-financial data.
Pulse collects and analyzes more than 300 non-financial data, including server response, patent maintenance ratio, number of retirees, and media reports, based on modernity, frequency, and scale. For example, there is a difference in the bankruptcy rate between companies that open the company website properly and companies that don't. The number of recent retirees can also measure the health status of companies.
An Antock official said, “(Pulse) can also be used for marketing purposes, such as forecasting loan demand for superior SMEs, as an example of collaboration with Shinhan Bank,” and “we confirmed the effectiveness of the service through technical verification conducted with SC First Bank at the end of last year on the same topic.” Based on this technology, Antock collaborated with various financial institutions such as Shinhan Bank, IBK Corporate Bank, KB Kookmin Bank, and Lotte Card.
Meanwhile, Antock plans to expand enterprise data collection and analysis automation (RPA) technology to the global market. We are preparing to enter Singapore as the first step to this end. Park Jae-joon, CEO of Antock, said, “Following our recent participation in the 'K-Startup Demo Day' in Singapore, we will focus on global promotion through the Singapore Fintech Festival next month,” and “we will quickly target the market by establishing a local corporation and launching services throughout the year.”
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Reporter Kim Tae-hyeon (thkim124@mt.co.kr)
