TLDR: BC Card has received designations for two new artificial intelligence (AI)-based ‘innovative financial services’ from the Financial Services Commission, leveraging its proprietary generative AI technology to automate card processing tasks and enhance merchant information. These services aim to minimize errors, improve data consistency, and provide more personalized financial offerings.
BC Card, a prominent financial institution, announced on June 27, 2025, that it has secured new designations from the Financial Services Commission for two groundbreaking artificial intelligence (AI)-based ‘innovative financial services’. This achievement positions BC Card as the sole credit card company to receive two such AI-related designations, underscoring its commitment to digital financial innovation.
The core of these new services lies in BC Card’s proprietary generative AI technology. The first service, a ‘generative AI-based optical character recognition (OCR) service,’ is designed to automate the extraction and organization of text from image files of card product brochures belonging to BC Card’s 11 member companies. This automation streamlines the previously manual processes of data entry, registration, and review, significantly reducing errors and enhancing the searchability and consistency of product information.
The second innovative service is the ‘consumer-friendly inference data generation service.’ This initiative fundamentally updates merchant information held by the card company using generative AI. It addresses the long-standing challenge of updating merchant data, which previously relied heavily on direct reporting from merchants. By overcoming this hurdle, BC Card can now provide more accurate and timely information, enabling the delivery of differentiated financial services.
This service is particularly beneficial for securing information on overseas merchants. Historically, overseas merchant data was dependent on global payment brands. With the new AI-driven service, BC Card can directly acquire this information, laying the groundwork for customized, specialized products and marketing strategies tailored to the increasing volume of overseas payment transactions.
Both services, designated as innovative financial services, will operate as temporary offerings for the next two years, during which testing will be conducted before their official launch. BC Card plans to implement these services by the end of 2025 and continuously refine them.
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Choi Won-seok, CEO of BC Card, emphasized the significance of this development, stating, ‘This designation of innovative financial services is a significant achievement that incorporates BC Card’s proprietary AI technology into actual financial operations.’ He further added, ‘In the future, BC Card will consistently promote digital financial innovation centered around consumers, fulfilling its role as a leading financial institution in financial AI technology.’
