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AI implementation lowers dropout below 1%
Connct Financial Holding Company successfully reduced default rates in its financing portfolio from 3-4% to less than 1% by utilizing artificial intelligence techniques, which also contributed to shortening the approval time for financing to just 10 minutes, while achieving a customer compliance rate of 99%. The CEO indicated that expanding the use of AI applications enhances employee productivity and benefits the labor market, while digital transformation in the financing sector creates greater opportunities for the insurance industry. Currently, Connect works with 15 banks and plans to expand its collaborations, especially in the fields of auto and consumer finance.
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