Bank of Yokohama creates loan review documents using Generative AI
The Bank of Yokohama, a member of the Concordia Financial Group, in collaboration with IBM Japan, has conducted a proof of concept…
The Bank of Yokohama, a member of the Concordia Financial Group, in collaboration with IBM Japan, has conducted a proof of concept utilizing Generative AI for creating loan review documents, with the results confirming its usefulness in terms of improving employee efficiency and enhancing credit assessment skills.
The Bank of Yokohama strives to be a “Solution Company” where each employee provides high-value financial services to address customers’ increasingly diverse and complex management challenges. In daily business activities, there is a growing need to better understand customer needs. Particularly in loan assessment operations, it is essential to improve employees’ interviewing and proposal skills while also achieving greater operational efficiency to create time for such activities.
In this proof of concept, a prototype “Loan Review Document Creation Support AI” was developed. The results confirmed that generative AI could help reduce the time employees spend creating loan review documents. Once implemented in operations, it is expected to achieve efficiency gains of up to 19,500 hours annually (equivalent to approximately 8 hours per month per loan officer).
Additionally, the system proved effective in clearly identifying gaps in customer interview information necessary for credit decisions. Through using generative AI in loan assessment, employees can gain insights into what information they should gather from customers, which is expected to effectively improve their assessment skills. The Bank of Yokohama will organize the points and challenges identified in this proof of concept and work toward implementation.
The Bank of Yokohama will continue to utilize cutting-edge digital technologies like generative AI to meet customers’ diverse needs and contribute to sustainable regional development by achieving more productive work methods.
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