KB Kookmin Bank to host 8th Future Finance AI Challenge

KB Kookmin Bank announced Friday it will hold the 8th Future Finance AI Challenge, a competition for university students to develop AI-driven financial service ideas.

Launched in 2019, the Future Finance AI Challenge is an annual contest aimed at discovering innovative ideas for applying AI to financial services and nurturing talented young professionals in the field.

Sponsored by the Financial Supervisory Service and Ewha Womans University, this year's competition centers on the theme of "implementing finance-related services using AI technology." A total of five teams will share prize money of about 28 million won ($18,600) — one grand prize winner receiving the Financial Supervisory Service Award, two runners-up and two merit prizes. Winning teams will also receive exemptions from the document screening and written examination stages when applying for positions in Kookmin Bank's ICT division.

The competition is open to current or leave-of-absence students enrolled in undergraduate or graduate programs who were born in 1997 or later. Participants may enter individually or in teams of up to three. Applications are accepted through Aug. 3.

The finals will be held at Ewha Womans University's Isambong Hall on Sept. 2. Last year, more than 130 teams entered, with 10 advancing to the final round.

"We expect innovative ideas to emerge in line with the broader spread of generative AI and AI agent technology across the financial industry," a Kookmin Bank official said.