BNK Financial Group is making significant moves to expand its retirement pension business. Following the launch of the first mobile-based retirement pension enrollment service in the financial sector, the group is now introducing an AI robo-advisor discretionary management service, accelerating its competition in the digital pension platform market.
On June 16, BNK Financial announced that its subsidiaries, BNK Busan Bank and BNK Gyeongnam Bank, will launch an "AI Discretionary Management Service for Individual Retirement Pension (IRP)" aimed at customers who enroll in IRPs.
This service allows customers to enter into investment management contracts with investment managers via mobile banking. An AI algorithm will automatically manage asset allocation and rebalancing based on the customer's investment preferences and goals. Partner investment management firms include December & Company and Quant.
Notably, this service introduces the first automated investment feature in the financial sector, allowing customers to set up automatic transfers for their investments. By configuring the transfer amount and frequency on a dedicated page for investment managers, customers can have a specified amount automatically deposited into their investment accounts each month, benefiting from AI-driven asset allocation and management services.
Previously, customers had to manually deposit contributions or follow separate investment procedures. With this new service, customers can easily engage in systematic retirement investment simply by setting up automatic transfers, enhancing convenience. This approach is expected to facilitate long-term diversified investments, contributing to the formation of stable retirement assets.
The launch of this service is a proactive response to the growing demand for asset management in the retirement pension market. It aims to support customers with limited investment experience in experiencing systematic pension asset management through AI. The annual limit for discretionary investment is set at 9 million won, with any unused limit eligible for rollover to the following year.
Choi Jae-young, head of the WM and Pension Group at Busan Bank and Gyeongnam Bank, stated, "The retirement pension market is rapidly shifting from a simple accumulation focus to active asset management. This AI discretionary management service is an innovative pension offering that helps customers reduce the burden of complex investment decisions and prepare for retirement more efficiently."
* This article has been translated by AI.
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