Finda announced on the 9th that it has launched the first in the industry "AI loan prediction service," which predicts the conditions under which users can receive loans without the need to check their credit limits. The "AI loan prediction service" is an advanced version of the "interest rate fluctuation notification service" that Finda launched in November last year, based on my data and Finda's AI technology. Users can check the loan conditions they are eligible for in advance through Finda AI without having to check their credit limits themselves.
Finda explained that it planned the AI loan prediction service to provide consumers with the best loan experience. It aims to minimize discrepancies between credit limit checks and actual contract conditions, allowing users to verify the approval likelihood of loan products not available at Finda, filtered with information suited to their individual situations. In essence, all loan products' approval possibilities can be considered at Finda.
Finda AI has introduced a personalized prediction model by classifying loan trends from over 3 million users into similar clusters. In addition to loan contract histories at Finda, users can utilize my data to see the loan conditions that people similar to them have recently contracted within the past month, and can check the top three product conditions sorted by interest rates and credit limits, respectively.
Finda provides not only partner product offerings but also connects users who qualify for policy loan products with relevant offerings and supplies information about products from financial institutions not listed with Finda. This reflects the needs of users who want to know the accurate approval conditions based on actual loan market trends.
The prediction conditions of Finda's "AI loan prediction service" are automatically updated every day at 7 a.m. This provides users the ability to check the latest loan availability conditions at any time and understand how their conditions have changed based on market trends. Additionally, to ensure that users do not miss the latest prediction results, a notification service is also provided every two weeks.
Park Hong-min, co-CEO of Finda, noted, "The AI loan prediction service aims not just to present favorable conditions but to become the most trusted guide at the starting point of the customer’s loan journey." He added, "Now, the paradigm will shift from an era where users compare conditions themselves to one where AI first finds conditions for them."