Fixing issues on your own has never felt so satisfying. Thanks to the rise of advanced yet extremely user-friendly technologies and AI, today’s customers demand fast, seamless and efficient solutions.  

Best of all, I know that this sentiment isn’t one I share alone. A recent study from Zendesk found that 67% of modern customers prefer self-service over human interaction, highlighting the need for businesses to invest in the right technologies.  

South Korea exemplifies this trend. While known for its cultural impact through K-dramas and K-pop idols, the nation has also captivated global audiences with groundbreaking and creative self-service innovations.  

Case in point – KB Kookmin Bank. Striving to become the "No.1 Digital Financial Group”, KB Kookmin leads the South Korea shift to AI-first with revolutionary self-service capabilities.

Enriching customer interactions with AI Banker

KB Kookmin Bank partnered with DeepBrain AI to develop its first AI Banker at their Yeouido headquarters. This kiosk aims to enhance customer engagement by offering human-like interactions.

Powered by real voice and video data from bank employees, the AI Banker leverages its proprietary financial language model, KB-STA (State of the Art Text Analytics), to deliver precise and relevant information.  

Here’s how it works:

• Voice, video, and text interactions: Versatile interaction options ensure customers receive a comprehensive and satisfying service experience.

• Equipped with financial insights: Offers comprehensive guidance on a variety of financial products, and provides educational resources to empower customers with sound financial literacy

• Assistance with intelligent devices: Guides customers on utilising nearby intelligent automated devices, like ATMs and STMs, ensuring easy and seamless experiences for customers.  

• Enhancing security with front-facing cameras: Ensures a secure and private experience for customers with automatic session closing capabilities when customers walk away from the kiosk.

Achieve efficient, personalised, and seamless banking with Smart Teller Machines (STMs)

KB Kookmin Bank has always been at the forefront of innovative service experiences. The journey began back in 2018 when the bank initiated the replacement of traditional ATMs with Smart Teller Machines (STMs). Fast forward to June 2023 and it's reported that South Korean banks have reduced their ATM networks by 31%.

These AI-powered digital branches are transforming customer service by handling nearly 80% of a human teller's functionalities. From basic tasks such as withdrawals and deposits to more complex activities like account opening, debit card issuance, and bill payments, STMs are redefining what self-service in banking means.

Embracing advanced AI technologies for superior customer experience

At the heart of KB Kookmin Bank’s technological advancements lies the Financial AI Center. It spearheads the group's AI strategy, talent acquisition, and cutting-edge deployments.  

The bank is committed to elevating its competitive edge and securing long-term growth by incorporating sophisticated AI technologies. This includes Generative AI and voice synthesis to enhance customer experiences. Some of the leading technologies driving this transformation:

• Generative AI: Applications like ChatGPT are tailored for financial tasks to boost work efficiency and create new business value.

• KB STA (State of the Art Text Analytics) 3.0: Enhances chatbots, callbots, search functionalities, and kiosk-based virtual consultations by accurately extracting financial terms from economic news and reports, demonstrating its versatility across various platforms.

• KB AI-OCR (Optical Character Recognition): This deep learning image recognition system identifies text from images with varying specifications. This is implemented in the KB Star Banking app for streamlined customer due diligence processes.  

• Structured data analysis modelling: Utilises machine learning for corporate loan reviews, fraud detection, and automating suspicious transaction reports.

• KB AI Financial Assistant: Aims to deliver hyper-personalised services through virtual human-assisted interactions across multiple platforms.  

AI outlook for South Korea

In this digital-first world, leveraging generative AI allows banks to elevate their self-service offerings, providing a high-quality, human-like service experience while reducing costs. As banks worldwide look to elevate their customer service standards, South Korea’s approach offers valuable insights into creating exceptional customer experiences through cutting-edge self-service solutions.

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