TOKYO-- May 09, 2023 -- Global AI Innovations Laboratory Co., Ltd. (hereinafter “GAILABO”) and AEON Financial Service Co., Ltd. (hereinafter “AFS”) have agreed to gradually introduce GAILABO's AI credit scoring and AI collection scoring services mainly at overseas subsidiaries of the AFS Group. We are pleased to announce that we will continue to collaborate as a strategic partner.

Purpose of this collaboration

We will actively introduce AI credit scoring and AI collection scoring services provided by GAILABO in Japan and overseas, mainly at AFS's overseas subsidiaries, with the aim of improving credit screening and collection rates.

Background of this collaboration

In July 2021, PT AEON Credit Service Indonesia (hereinafter “ACSI”), a local subsidiary of AFS in Indonesia, introduced AI credit scoring. At that time, ACSI used personal screening model because it was difficult to make screening decisions in a market with a certain number of customers without external credit information, but as a result of promoting the digitization of screening based on GAILABO's data, the automatic screening ratio and average screening time were greatly improved, leading to improved convenience for customers.

Future development

AEON Credit Service (M) Berhad, a local subsidiary of AFS in Malaysia, has decided to introduce AI credit scoring created by GAILABO, similar to ACSI. Through this collaboration, we will provide safe and secure loans to customers with unstable incomes by judging credit risk using AI credit scores.

Going forward, as a strategic partner, AFS will continue to utilize its credit business know-how and achievements cultivated over many years in Japan and overseas and GAILABO's track record of scoring using AI to meet customer needs, such as shortening the speed of existing screenings, while at the same time conducting credit screening and collection operations more efficiently.

AFS will promote the digitalization of its operations and will continue to promote financial inclusion in Japan and other Asian countries and contribute to social development through its credit business.

Overview of GAILABO's AI credit scoring service

It is a “Software as a service” in which AI learns customer information (not including personal information) held by financial institutions and scores the solvency of borrower applicants.

This service can be updated to improve accuracy at any time by responding quickly to changes in the environment and utilizing a huge amount of data (credit information, alternative data, etc.). Taking advantage of these features, it is possible to further improve the efficiency and sophistication of the screening and collection business process.