SAN FRANCISCO, Feb. 13, 2019 /PRNewswire/ -- During IBM
Think, Hyundai Card ∙Commercial (www.hyundaicard.com),
financial services subsidiaries of Hyundai and Kia Motors,
announced today they are working with IBM (NYSE: IBM) to
advance their use of cloud-based AI and blockchain technology with
the aim of improving the customer experience and expanding their
financial services business globally.
The news was shared during IBM Think 2019, IBM's annual
conference focused on technology and business.
For the first time in the Korean finance industry, Hyundai Card
has introduced an AI-based chatbot for customer service. Named
'Hyundai Card Buddy,' it engages with customers to answer common
questions quickly; while freeing Hyundai professionals to handle
more complex customer service needs. South Korea has some of the highest rates of
Internet use than any other country in the world, so Hyundai Card
Buddy is a natural way to improve clients' digital experience.
Hyundai Card Buddy has helped one million customers since it has
launched.
The system continuously learns through interactions with users
and by relying on natural language processing and machine learning
technology from IBM Watson, Hyundai Card Buddy is able to
understand hidden meaning, interpret client questions and provide
answers and information to enhance the client experience and
streamline customer service operations.
In addition, Hyundai Commercial, a corporate finance company
that provides leasing and financial services for commercial
vehicles and construction equipment, is collaborating with IBM to
apply blockchain and modernize its business model. Using the open
source Hyperledger Fabric to create a new supply chain financing
ecosystem for Hyundai Commercial, the network is designed to reduce
lead times and costs in financial transactions among dealers,
distributors, and manufacturers. The network for commercial
financing will provide participants with a single view of all
transactions happening in the network while automating manual
processes and enabling transaction data to be securely managed and
shared more efficiently.
"It's almost impossible to fully
understand or memorize the benefits, limits, or conditions of a
finance product. Customer services employees' turnover rate and
training cost is very high while the customers demand high quality
service. So we introduced IBM Watson and it became a very powerful
tool to help our employees and helped us to lower our employee
turnover rate to less than 10%," said Ted
Chung, CEO of Hyundai Card ∙ Hyundai Capital ∙Hyundai
Commercial.
"Korea enjoys a digital-first financial services industry in
which the rapid adoption of technologies such as artificial
intelligence, analytics, blockchain and cloud are improving the
customer experience and helping expand into new opportunities.
Working with IBM, Hyundai Card ∙ Hyundai Commercial has pioneered
these new technologies and has been a strong innovator in the
industry," said Andrew Chang,
General Manager, IBM Korea.
IBM is a world leader in AI software, services, and technology
for business. IBM has deployed Watson solutions in thousands of
engagements with clients across 20 industries and 80 countries.
Additionally, IBM is recognized as the leading enterprise
blockchain provider and has worked with hundreds of clients across
financial services, supply chain, government, retail, digital
rights management and healthcare to implement blockchain
applications. The cloud-based IBM Blockchain Platform delivers the
end-to-end capabilities that clients need to quickly activate and
successfully develop, operate, govern and secure their own business
networks.
About Think 2019
At Think 2019, IBM will outline new offerings, client engagements,
partnerships, technology breakthroughs and developer tools that
underscore how IBM and partners are changing the way the world
works. For more information, visit the IBM Think 2019 Newsroom:
https://newsroom.ibm.com/think. Follow the conference on Twitter at
#think2019 and @ibmlive, and go
to https://www.ibm.com/events/think/ for the full
schedule and live streaming agenda.
Media Contact:
Christina Trejo
848.702.4607
Christina.Trejo@ibm.com
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SOURCE IBM