Ribbon Intelligence and Proten Form Strategic Alliance to Target Financial AI Search and Agent Market
IT DAILY ·
✦ AI Summary
Ribbon Intelligence and Proten have signed a strategic MOU for a joint business targeting AI search and knowledge agents specialized for the financial sector.
The two companies plan to jointly develop the Financial AI Knowledge Agent, connecting financial companies' internal documents and unstructured and structured financial data with generative AI.
The solution will provide intelligent search, Q&A, document summarization, information analysis, report writing, and work support functions for financial companies including banks, securities firms, asset managers, and insurers.
Ribbon Intelligence and Proten have joined forces to target the financial AI search and agent market. Ribbon Intelligence is a financial data and AI specialist under the Ribbon Associates Group, and its CEO is Kang Min-gu. Proten is a specialist in enterprise AI search platforms, and its CEO is Park Jae-wan.
The two companies said on the 4th that they had signed a strategic MOU for joint business in financial-sector AI search and knowledge agents, with the goal of targeting the generative AI market in financial services based on their financial data and AI capabilities and enterprise AI search platform expertise. Through this agreement, the companies plan to jointly develop and commercialize AI search and knowledge agent solutions tailored to the financial sector.
The joint development and commercialization target is a Financial AI Knowledge Agent solution optimized for the financial industry. After the contract signing, Park Jae-wan, CEO of Proten, on the left, and Kang Min-gu, CEO of Ribbon Intelligence, posed for a commemorative photo.
The agreement was pursued to respond to the rapid expansion of generative AI demand in the financial sector and to proactively secure a generative AI service model specialized for finance, taking into account the complexity of financial data and the security and regulatory environment. To that end, the two companies will push to build a next-generation AI search and agent platform tailored to financial-sector work environments. In the process, they will combine Ribbon Intelligence's expertise in financial domains, data preprocessing capabilities, and AI Full Stack design capabilities with Proten's large-scale integrated search technology, vector search technology, and RAG technology.
Ribbon Intelligence is a financial AI specialist under the Ribbon Associates Group. The company is carrying out businesses that combine financial data and AI technology, and it is responsible for turning complex market information into actionable insights.
Ribbon Intelligence directly designs and implements AI models, RAG, AI Agent, Application, and Infrastructure based on Data Foundation. Through this, it has the capability to directly design and implement the entire financial AI Full Stack.
The two companies are seeking to strengthen their capabilities in collecting, refining, and structuring financial data, and they are also working to enhance AI-based Market Intelligence capabilities. In addition, they are jointly pushing to strengthen their ability to build data and AI services specialized for financial domains such as ETF and fund data platforms.
Proten supplies ProSearch v2.0, an integrated search engine for large-scale data environments, helping users quickly and accurately find the information they want. Proten has also supplied ProVSearch v1.0, a vector search solution based on generative AI, and ProRAG v1.0, a RAG solution. On that basis, Proten has steadily accumulated technical expertise and know-how in customized enterprise AI search.
Under the agreement, the two companies plan to jointly develop the Financial AI Knowledge Agent. This Financial AI Knowledge Agent will be implemented by safely connecting the vast internal documents and unstructured and structured financial data held by financial companies with generative AI, and it will provide intelligent search, Q&A, document summarization, information analysis, report writing, and work support functions in a single environment.
The direction for implementing generative AI in finance focuses on going beyond simple LLM integration and instead building on a sophisticated preprocessing and search system for financial data. The implementation goal is to combine RAG and financial data structuring to create a trustworthy AI environment capable of evidence-based answers and to enable source tracing. This aims to minimize hallucinations in generative AI. Hallucinations in generative AI are widely cited as a major problem.
The service policy is to provide an enterprise-grade, security-focused AI architecture that reflects the security policies of financial companies. It also incorporates data access permissions, internal rules, and regulatory requirements. The target users are financial companies such as banks, securities firms, asset managers, and insurers.
The expansion plan will later extend to internal knowledge search and research support, product and market information analysis, regulation and work manual search, and report writing. Based on a structure that reflects security, permissions, and regulatory conditions, the companies aim to broaden the scope of application across multiple business areas within financial companies.
Kang Min-gu said the financial industry has a high degree of complexity in data structures and faces higher demands for accuracy, security, and reliability than other industries. He added that the actual business use of generative AI requires a deep understanding of financial data, sophisticated data preprocessing, and highly reliable search technology. He also said the goal is to build a new standard for financial AI agents that can actually be used by financial companies in the field by combining Proten's proven AI search and RAG technologies with Ribbon Intelligence's financial data and AI Full Stack design capabilities.
Park Jae-wan, CEO of Proten, said that combining Proten's integrated search technology and accumulated RAG technology with Ribbon Intelligence's financial domain expertise would make it possible to provide competitive AI services that can meet the financial sector's demands for high accuracy and security. He said the company plans to use this as a basis to expand cooperation with partners that have industry-specific expertise and secure differentiated competitiveness in the enterprise generative AI market and the AI agent market.
The two companies plan to develop the Financial AI Knowledge Agent solution and to gradually pursue joint sales and marketing, customer development, and business proposal activities. They also plan to continuously secure real-world financial company use cases, expand the financial sector's AX business, and extend the scope of cooperation to various AI agent services specialized for the financial industry in the future.
Source: IT DAILY · Kim Ho
Original: https://www.itdaily.kr/news/articleView.html?idxno=241500
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Source: IT DAILY
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