JapanFinance and insurance2021 – ongoingNanto Bank
FinCast AI to flag changes in clients' business conditions from deposit and withdrawal data
Nanto Bank began using FinCast in October 2021 to spot changes in clients' business from their account movements
Problem
Banks usually review a client's health once a year from its financial statements. Changes between reviews are easy to miss.
Approach
Nanto Bank started operating FinCast, a cloud credit-support service from JSOL, co-developed with Sumitomo Mitsui Banking Corporation, in October 2021. The AI analyzes clients' deposit and withdrawal activity to detect changes in business conditions. The bank started from a pre-trained model and trained it further on its own data.
Results
Takeaway
The only timing figure is JSOL's claim about the product. The article gives no Nanto-specific result.
Categories
- Industry
- Finance and insurance
- Business function
- Finance, risk and legal
- Innovation type
- Process innovation
- AI technology
- Predictive analytics and ML
- Adoption
- Vendor solution
- Evidence
- Vendor case study
Sources
Source summaries
Describes Nanto Bank's start of FinCast operation in October 2021 and how the AI reads clients' deposit and withdrawal data. It attributes the 3 to 15 months earlier detection figure to JSOL.
Full details are in the original sources.