AI technology finance company PFCT (PFCT Technologies, CEO Lee Su-hwan) has signed a strategic partnership (MOU) with Hi-Tech, a Vietnamese alternative data specialist fintech company, and will expand its AI credit rating solution supply and alternative data-based financial technology business, focusing on the Vietnamese market.
This agreement was signed when a high-tech delegation visited PFCT's headquarters in Seocho-gu, Seoul. Through this collaboration, the two companies plan to build a local, customized AI credit rating system that will increase the accuracy of credit assessments for Vietnamese financial institutions and encompass customer groups that were difficult to assess using existing financial data alone.
PFCT and Hitech will collaborate on two business axes. First, they will provide AI credit rating solutions to Vietnamese financial institutions. PFCT will leverage Hitech's alternative data on consumption, income, and behavior in Vietnam and Southeast Asia to develop and provide AI credit rating solutions optimized for financial institutions' loan products and risk structures. Hitech will be responsible for local market analysis and financial institution identification.
Second, they will also collaborate on alternative data-based credit ratings and data product businesses. If Hitech launches data products utilizing locally acquired alternative data, PFCT will participate as a key technology partner, providing AI credit rating models and technical infrastructure. Through this partnership, Hitech will supply data products, including credit rating results, to the market, while PFCT plans to expand its business into the data business area based on AI modeling and assessment technologies.
PFCT's AI risk management solution, "AIRPACK," will serve as the core technology infrastructure for both projects. PFCT will utilize AIPACK to manage the entire process, from AI credit rating model design and development to operation, management, and maintenance. The solution will be flexibly applicable not only to external cloud environments but also to internal server environments within local financial institutions.
PFCT CEO Lee Su-hwan said, “This agreement is the starting point for localizing alternative data-based AI credit rating models and risk management solutions for the Vietnamese financial market.” He added, “We will support Vietnamese financial institutions in establishing sophisticated lending strategies and effectively managing risks, and based on this, we will expand our business across the Southeast Asian financial market.”
“By combining high-quality alternative data with PFCT’s AI credit rating technology, we will be able to increase the value of data utilization and simultaneously enhance the soundness and efficiency of the Vietnamese financial market,” said Hi-Tech CEO Nguyen Nam Phong.
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