Fintech company Habit Factory turned a profit in the first quarter of this year. Habit Factory announced on the 12th that it recorded an operating profit of 716.54 million won for its Korean business.
Sales based on connection amounted to KRW 9.42637 billion, up 86.8% year-on-year. The number of new memberships and insurance contracts increased by 43.3% and 82.3%, respectively, compared to the first quarter of last year.
The initial insurance premium in March recorded 320 million won, the highest ever. It is a 64% increase compared to the initial insurance premium in March last year (194 million won). The initial insurance premium is the first insurance premium paid by a consumer to an insurance company after signing an insurance contract.
Overseas business is also growing. Habit Factory's US subsidiary executed 17.1 billion won in loans in the first quarter, applying the exchange rate of 1,450 won per dollar. Loaning.ai, a specialized bank for housing mortgage loans, saw its sales increase by 246.5% year-on-year.
The growth was driven by the expansion of the design organization, application of artificial intelligence (AI) technology, and brand campaigns. The explanation is that the number of customers who can respond to KakaoTalk consultations has increased as a result of aggressive hiring since the second half of last year.
Improving the consultation process through AI also affected work efficiency. We created and used ‘Signal AI Helper’, which provides necessary data during consultation, and ‘Summary Agent’, which provides guarantee and review results and points to watch out for based on past conversations for customers who are resuming consultation.
We also developed an AI called 'Haebot' that asks questions to designers and makes them think about answers, and used it to train new designers. We created more than 100 customer types by setting different ages, genders, personalities, diseases, etc., and drastically reduced training costs and time.
Jeong Yun-ho, co-CEO of Habit Factory, said, “The turnaround to profitability through rapid growth will serve as a stepping stone for new challenges in the future,” and added, “We will do our best to expand our market share while proving our profitability and technological prowess.”
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