KakaoBank Launches Conversational AI Transfer, First in Finance

KakaoBank is bringing the future of finance one step closer! It has introduced the innovative 'AI Transfer' service, based on conversational AI. Now, instead of entering complex account numbers or bank names, transfers proceed smoothly just by speaking in everyday language, like "Send 50,000 won to Mom." 'AI Transfer' dramatically simplifies the existing remittance process. For recent transfer recipients, you can remit simply by their name, or even more easily by their set nickname, eliminating the inconvenience of having to manually search for each recipient. The AI accurately understands the customer's request and identifies the target account. Security is also top-notch. KakaoBank has completed not only internal and external vulnerability checks for the service but also the Financial Security Institute's simulated hacking-based 'AI Service Model Security Check'. Furthermore, if a customer's request is unclear, a reconfirmation process is carried out, and rigorous authentication procedures, such as recipient verification, thoroughly prevent erroneous transfers. Any KakaoBank deposit and withdrawal account customer can conveniently use it via the 'AI Transfer' menu within the app or by voice command through Apple Intelligence, and can transfer up to 2 million won per transaction and per day. Following 'AI Search' in May, KakaoBank is demonstrating a leading move by actively integrating AI into core financial functions with 'AI Transfer'. This is a distinctly different approach from how AI has merely remained in simple guidance or auxiliary tasks in the existing financial industry. With the preview of 'AI Group Treasurer' for group accounts coming in December, KakaoBank is envisioning a future where AI makes our financial lives smarter and simpler.