FRONTEO contributes to Ashikaga Bank's DX promotion, highly evaluated for PoC of reception record monitoring using AI

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2023.01.19 Press release

--To the press -

FRONTEO contributes to Ashikaga Bank's DX promotion, highly evaluated for PoC of reception record monitoring using AI

Deployment example of an AI model built in collaboration with the Bank of Yokohama

FRONTEO Inc.
Masahiro Morimoto, President and CEO
2-12-23 Konan, Minato-ku, Tokyo
(Code number: 2158 TSE Growth)

 FRONTEO Co., Ltd. (Headquarters: Minato-ku, Tokyo, President: Masahiro Morimoto, hereinafter: FRONTEO) will monitor reception records using FRONTEO's proprietary AI, The Ashikaga Bank, Ltd. (Headquarters: Utsunomiya City, Tochigi Prefecture, President and CEO: Kazuyuki Shimizu, hereafter: Ashikaga Bank), we are pleased to announce that we have implemented a PoC (Proof of Concept) and received a high evaluation.

 This reception record monitoring is carried out at The Bank of Yokohama, Ltd. (Headquarters: Yokohama City, Kanagawa Prefecture, President: Tatsuya Kataoka, hereinafter: Bank of Yokohama), using FRONTEO's AI, daily for the purpose of compliance compliance and customer protection It is a system built to standardize the confirmation work of reception records.

 At the Bank of Yokohama, when sales representatives propose financial products such as investment trusts and life insurance to customers, the exchanges are summarized as reception records, and managers check whether there are any problems with the correspondence.Since the amount of sentences in reception records is enormous, in addition to the heavy burden of confirmation work for executives, there was a problem that the quality to be checked varies depending on knowledge and experience.Therefore, the Bank of Yokohama and FRONTEO used AI for the primary check of this confirmation work to reduce variations in the quality of checks and to standardize operations.

 Based on this achievement, the Bank of Yokohama and FRONTEO believe that the AI ​​model actually used in building this system can be widely used by other financial institutions as well. We have started providing services through collaboration, with each responsible for providing the engine and services.By utilizing multiple AI models of the Bank of Yokohama, companies that introduce this service do not need to prepare teacher data for pre-learning and build operations from scratch, which are originally required when introducing AI. The time and cost required for implementation can be greatly reduced and prompt implementation is possible.

 Ashikaga Bank promotes DX for sustainable growth and aims to build a management foundation by utilizing digital technology and data.Since the collaborative services of the Bank of Yokohama and FRONTEO are consistent with this policy, the bank conducted a PoC of reception record monitoring with the aim of increasing the sophistication and diversification of operations related to compliance.In addition, the results of the PoC confirmed the effectiveness of AI utilization, leading to consideration of full-scale introduction.If the introduction is realized, it will be the first deployment example of this service.

 FRONTEO will continue to develop and provide AI solutions that utilize innovative AI with its strength in natural language processing, to improve the efficiency and sophistication of normal monitoring and audit operations, comply with compliance, prevent fraud and scandals, and quickly We will contribute to the discovery.

 Although the impact of this matter alone on the Company's business performance for the current fiscal year will be minor, we will promptly notify you of any matters that should be disclosed.

 

FRONTEOabout URL: https://www.fronteo.com/
FRONTEO is a data analysis company that uses the in-house developed AI engines KIBIT and Concept Encoder, Looca Cross specialized in natural language processing to extract meaningful and significant information from a large amount of textual data and support companies' business. Since its inception in August 2003, we have been working globally with Japan, the United States, Korea, and Taiwan, mainly in the Legaltech business, such as e-discovery (electronic evidence disclosure) and digital forensic surveys, which support company international lawsuits. Based on AI technology developed in this project, we have expanded our business fields to life science, business intelligence, and economic security since 8, and have used AI to transform textual data into knowledge, thus contributing to the resolution of various companies' issues, including support for drug discovery, support for dementia diagnostics, and support for financial, human resources, and business. Listed on TSE Mothers (currently TSE Growth) on June 2014, 2007. In January 6, the company obtained a license to manufacture and sell Class I medical devices (license number: 26B2021X1), and in September of the same year, the company submitted a notification to sell controlled medical devices (notification number: 13MinatoMiSeikikiDai1). Capital: ¥10350 (as of March 9, 3).

* FRONTEO, KIBIT, conceptencoder, and Looca Cross are registered trademarks of FRONTEO in Japan.

 

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Email: pr_contact@fronteo.com

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