Lecture at the 21st Japan International Financial System Forum 2020

"21st Japan International Financial System Forum 2020-Digitalization and DX Required for Financial and Asset Management Industry-" sponsored by JTB Communication Design was held on February 2020, 2 under strict measures against coronavirus infection. FRONTEO AI BizDevOps Lab. Director Kenya Igasaki II took the stage.

In our lecture entitled "Efforts for AI Business Implementation of Projects Adopted by Financial Services Agency FinTech Demonstration Experiment Hub", we gave a lecture with Mr. Akihiro Shimoda, Assistant Manager, General Policy Division, General Policy Bureau, Financial Services Agency.Demonstration experiment conducted in 2018 with the cooperation of four financial institutions (Fintech demonstration experiment hub adopted project)In addition to the summary of the results of, we introduced the issues and countermeasures in practical use of AI.

Comparing the accuracy and efficiency of operations that extract compliance violations included in business records when selling financial products and customer complaints included in call records with "checks only for people" and "checks using AI (KIBIT)" In the demonstration experiment conducted in the form of KIBIT, results such as "AI has twice the number of correct answers per unit time and higher detection accuracy than humans" were obtained.

Based on this result and the view of the Financial Services Agency that "there is no particular problem in operating through temporary confirmation by AI regarding confirmation work by financial institutions," participating companies will introduce AI into practice. Has been promoted, and practical use has started since last fall.

In the latter half of the lecture, we also talked about problem-solving cases of each company that has promoted the practical use of AI "afterwards" of this demonstration experiment.

Unlike the experimental environment, in practical use, there are many issues to be examined and solved, such as how to manage and utilize records stored in various formats and scrutiny of check viewpoints.Although I was able to introduce only a part, the cases of each company that has realized the practical use of AI with high effectiveness by reviewing the data input items and optimizing the business process, have troubles with the introduction of AI. I think that it will be very useful for those who have it.

■ Solutions for financial institutions provided by FRONTEO
https://kibit.fronteo.com/solution/financial/

(reference)
■ Outline of "21st Japan International Financial System Forum 2020"　
https://www.gmac.jp/jibsis/2020/
■ About the experimental results of the FSA "FinTech Demonstration Experiment Hub" support decision project https://www.fsa.go.jp/news/30/20180801.html