FRONTEO Co., Ltd.
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 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. ■ About FRONTEO URL: https://www.fronteo.com/
FRONTEO uses in-house developed AI engines “KIBIT”, “Concept Encoder” and “Looca Cross” that specialize in natural language processing. We are a data analysis company that extracts meaningful and important information from vast amounts of text data to support corporate businesses. Since its founding in August 2003, it has been operating globally in Japan, the United States, South Korea, and Taiwan, with a focus on legal tech businesses such as “e-discovery (electronic discovery)” and “digital forensic investigations” that support international corporate litigation. has been developed. Based on the AI technology cultivated in this business, since 2014 we have expanded our business fields to life science, business intelligence, and economic security. We contribute to solving the problems of various companies, such as drug discovery support, dementia diagnosis support, and financial/personnel/sales support. June 26, 2007 Listed on Tokyo Stock Exchange Mothers (currently Tokyo Stock Exchange Growth). In January 2021, we acquired the first-class medical device manufacturing and sales license (permit number: 13B1X10350), and in September of the same year, we submitted a controlled medical device sales business (report number: 3 Minato Misei device No. 120). Capital 3,034,846 thousand yen (as of March 31, 2022).
* FRONTEO, KIBIT, conceptencoder, and Looca Cross are registered trademarks of FRONTEO in Japan.
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FRONTEO Co., Ltd.