Customer experience: It was first in Japan to introduce foreign currency savings services integrated with AI technology

au Jibun pioneered the foreign currency savings services with AI technology in Japan. Its AI Foreign Currency Savings Plan has a user-friendly interface and low transaction threshold which bridge the investment gap of customers holding foreign currencies. As a function of automatic savings, its high judgement accuracy in recommending the most favourable time to deposit makes it a unique service globally.

ICICI Stack improved sales productivity by leveraging customer conversation. UOB’s Lady’s Account is the only savings account in Singapore that provides female cancer benefit in which the sum assured is based on the savings balances in the past three months.

KEPT by Krungsri offers self-service onboarding with identity verification using blockchain technology of Thailand’s National Digital ID (NDID) platform. CIMB Philippines offers free life insurance which only needs a low maintaining balance for the customer’s deposit account.

Digital: It leveraged digital solutions to address the need for foreign currency deposits with higher return

au Jibun Bank introduced digital solutions for customer needs amid pandemic. The bank observed the increasing need for foreign currency deposits that offer higher returns. Customers can easily start AI Foreign Currency Automatic Savings Plan for as low as $1. The trading of five currencies including US dollars, euros, Australian dollars, South African rands, and New Zealand dollars were made possible. With the integrated AI embedded in its services, the bank was able to predict the timing at which the yen appreciates the most against a particular currency in each month and it automatically deposits the requested amount. The AI regularly conducts deep learning based on the latest currency exchange data and market movements to improve its accuracy.

Emma Li, assistant manager at au Jibun Bank, said, “We are honoured and it is our fourth time to win at the Asian Banker Awards. It is our first for a product award. It proves that our AI Foreign Currency Automatic Savings Plan is convenient and unique automatic savings product in the market. It gives us great confidence to provide customers with better digital experiences in the future. As a joint venture company of KDDI, the second largest telecom carrier in Japan operating with the brand name ‘au’ and MUFG Bank, the largest commercial bank in Japan, we will continuously leverage expertise and knowledge from both sides, and also learn from leading fintech partners to create our own business model and services that are best for Japan market”.