Sony Bank to Use AI in Housing Loan Screening

May 7, 2018

Tokyo- Sony Bank, a unit of Sony Financial Holdings Inc., said Monday that the bank will introduce automated preliminary screening for housing loan applications using artificial intelligence technology.

The system, scheduled to start on Thursday, will shorten the length of the current preliminary screening process of two to six days to as little as 60 minutes.

As well as improving efficiency, the measure is also seen increasing the number of clients who move forward to full screening and increasing the bank's balance of loans outstanding.

The AI-based preliminary screening uses client information registered online, including address, age, income, place of employment, and information about the subject property.

The screening work will be passed on to the human hand if AI is unable to make a judgment. Jiji Press