[Korea Contactless Technology] Development of an Integrated Foreign Currency Management System combined with Autonomous AI Voice Recognition Robot

    LOS ANGELES, CA, December 10, 2021 /24-7PressRelease/ -- Contact-free and social distancing are terms that have become much familiar in the aftermath of COVID-19. The latest technologies in areas close to our lives are also emerging in line with this trend. Artificial intelligence, big data, VR (virtual reality), and AR (augmented reality) provide us with new realistic content and enable us to lead a more advanced daily life through personalized program development or platform services. The Korean government is focusing on expanding contact-free services for our daily lives. Through this, it plans to prevent the spread of infectious diseases such as COVID-19 and secure a leading position in the global contact-free service market in line with the era of digital transformation.

In the era of With Corona and Post-Corona, contact-free technologies and services are expected to grow rapidly. Accordingly, the National IT Industry Promotion Agency(NIPA) and Ministry of Science and ICT (MSIT) are discovering and supporting leading contact-free services from life-to-face areas that people can feel to protect their daily lives and boost economic vitality from infectious diseases such as COVID-19. Among them, the "Integrated Foreign Currency Management System combined with Autonomous AI Voice Recognition Robots" developed by OODDY Co., Ltd. provides one-stop foreign currency/travel management services as a system to provide contact-free financial service benefits for domestic and overseas travelers.

The foreign currency management system, which combines fintech services, self-driving robots, and multilingual voice recognition services for the first time in the world, is a non-face-to-face exchange solution using various payment methods such as cash, debit cards, and mobile pay. In addition, it is evaluated as a service tailored to the spread of contact-free financial trends by providing various additional services such as automatic issuance of prepaid cards for overseas travelers, subscription of traveler's insurance, and investment products.

An integrated foreign currency management system combined with an autonomous driving-based AI voice recognition robot is provided as an interactive voice-based interactive service for convenient use by older and foreign users who are not familiar with using IT devices. In addition, a QR code-based foreign currency processing system that can process 24 types of coins from nine countries within 30 seconds (two related patents, one application, one PCT, and one overseas patent) is established to secure processing speed and security. Furthermore, robot installation and operation centered on airport entrances and departures have minimized existing service costs (store operating costs, labor costs, installation costs, etc.), and unmanned-based services are provided 24 hours a day regardless of location.

The development of the fintech industry is expected to continue for the time being due to the development of ICT, the rapid spread of mobile devices, changes in life patterns of financial consumers, and the full support and deregulation of each country. The global fintech transaction amount, which combines digital payment, personal finance, and alternative finance, is expected to increase from $3.6356 trillion in 2017 to $9.824 trillion in 2023. In addition, the size of the domestic real exchange market through overseas tourists amounts to about $3 billion (30 trillion won) a year and has grown by about 8% a year due to the increase in the size of tourists. In particular, the proportion of contact-free currency exchange has increased due to increased mobile use, and the proportion of mobile financial services such as contact-free currency exchange is expected to expand further in the post-COVID-19 era.

OODDY's self-driving-based financial service robot is meaningful not only in terms of improving the convenience of contact-free financial services for domestic and overseas travelers but also in "creating new markets through inter-industry combination," "consumer-led services development," and "world market-leading services." The new convergence service through inter-industry combination can further diversify the service robot market centered on the medical, logistics, and cleaning industries and promote the combination between various industries through the combination of Fintech and robots. In addition, consumer-led convergence service development overcomes the limitations of supplier-centered robot development and realizes robot service provision tailored to customer needs. Finally, OODDY has provided an opportunity to lead the global market with a foreign currency management financial service platform that can conveniently use various foreign currencies 24/7.

"We plan to complete the development of 'Buddy', an autonomous AI voice recognition financial robot combined with an integrated foreign currency management system and conduct a demonstration project at SRT Suseo Station starting from the end of December.", said Yoo-hyuk Lee, Director of OODDY Co., Ltd., "We plan to conduct commercial marketing at airports, hotels, and stations next year after completing the demonstration project."

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