Danamon Gandeng 6Estates To Improve Credit Processing With AI

JAKARTA - PT Bank Danamon Indonesia Tbk (BDMN) and 6Estates Pte Ltd, a specialist in artificial intelligence for businesses from Singapore, today announced a strategic partnership to support Danamon's innovation in the use of artificial intelligence (AI) in credit processing.

Director of Global Alliance Strategy Danamon, Jin Yoshida explained, this partnership will have an important role in Danamon's digital transformation and support the innovation strategy owned by the MUFG group as the parent company of Danamon.

"The domain-specific Large language technology of the AI model developed by 6Estates allows Danamon to increase speed and operational accuracy in its credit business, as well as at the same time, support the achievement of shared vision with MUFG to encourage digitalization and financial inclusion throughout Indonesia," he said, Friday, May 9.

Sementara itu Chief Executive Officer 6Estates Luan Huanbo mengatakan, solusi AI yan dikembangkan secara khusus untuk institusi keuangan dan telah berhasil digunakan di kawasan Asia untuk mendukung bank dan kreditur lainnya mengambil keputusan yang lebih cepat, dengan skala yang lebih besar, dan lebih smart.

"Outside of this automation, our GenAI model provides an in-depth understanding of the risks from fraud detection and cash flow analysis to multi-account consolidation and profit loss report reconstruction resulting in stronger and more definite credit decisions," Luan continued.

Later in the early stages of Danamon's collaboration with 6Estates, Danamon will take advantage of 6Estates' finance-as-a-service (FAAS) platform that utilizes AI to automate the newspaper account analysis process, including identifying indications of fraud, in a safe manner.

In the early stages of implementing this partnership, Danamon has taken advantage of 6Estates' solution to process an average of more than 70,000 credit documentation pages per month to support Consumer Banking, SME Banking, and Enterprise Banking businesses. Beyond the automation used by Danamon, the 6Estates GenAI solution has a comprehensive risk assessment capability that can support faster and more accurate credit decisions.

Among the advanced features included in the analysis of cash flow reports, evaluation of buyer-seller relationships, multi-account and multi-currency consolidation, analysis of payability, and early warning indicators.

The solution can also result in adjusted memos and loss profit reports, providing a deep understanding and can be followed up for credit assessments.

The use of 6Estates solutions increases the speed and accuracy of Danamon data processing, as well as provides more in-depth analytical information on Danamon credit operations, with the accuracy of data extraction from news accounts of more than 99 percent.

This operational efficiency is expected to shorten processing time, improve the quality and accuracy of credit assessments, and improve service quality for customers, while at the same time ensuring compliance with applicable regulations and maintaining banking data security.