South Korea Augmented Analytics in BFSI Market—Allied Market Research

South Korea Augmented Analytics in BFSI Market—Allied Market

Report Code : A109178

quote Augmented analytics in the banking, financial services and insurance (BFSI) market in South Korea is an exciting development in the finance industry. With a thriving fintech sector, leading research and development initiatives, and the latest technology trends, the country has the potential to be a leader in this field. Its current consumer trends are conducive to the increasing use of this technology, and it offers a new window of opportunity for banks to capture customer insight and provide better service. The presence of global players also provides the competitive landscape with an interesting dynamic, as companies strive to offer the best value to customers. While the market size and forecast remain key performance indicators, the governing factors are ultimately innovation and convenience. quote

Pradee Ravi - Lead Analyst
BFSI at Allied Market Research

Get 20% Free Customization In This Report
Follow us on Social Media:       

The South Korea augmented analytics in BFSI market is driven due to several factors, including increase in demand for enhanced data-driven decision-making processes within BFSI organizations. Since real-time insights play a crucial role in financial institutions, therefore augmented analytics technology empowers organizations to extract valuable insights from massive datasets leading to more informed business strategies and improved customer experiences. 

Furthermore, surge in pressure to comply with stringent regulations and ensure robust risk management practices has increased the demand for augmented analytics in the BFSI sector. Augmented analytics technology aids in risk & compliance management by providing predictive analytics and automated reporting capabilities, thus enabling organizations to efficiently identify and mitigate risks, ultimately safeguarding their reputation and financial stability. 

However, there are certain restraints of the South Korea augmented analytics in BFSI market. The stringent laws implemented by the South Korea Government pertaining to lack of transparency and unethical practices in augmented analytics technology present a significant obstacle for market players, as many of them fail to comply with these laws, thus hampering the growth of the market. In addition, concerns over data privacy and security restrict many financial organizations from adopting the latest technology, therefore restraining the market. 

On the contrary, the South Korea augmented analytics in BFSI market offers abundant opportunities for growth. Increase in use of Artificial Intelligence (AI) and Machine Learning (ML) algorithms in augmented analytics technology offers prospects for further innovation and customization of solutions tailored according to unique needs of BFSI institutions. In addition, surge in adoption of cloud-based deployment models is expected to lower the overall cost of ownership and enhance scalability for smaller players in the BFSI sector. 

The South Korea augmented analytics in BFSI market is segmented by component, deployment model, enterprise size, and application. On the basis of component, the market is bifurcated into solution and service. By deployment model, the market is bifurcated into on-premise and cloud. As per enterprise size, the market is divided into large enterprises and small and medium-sized enterprises. Depending on application, the market is categorized into risk & compliance management, customer analytics, fraud detection, portfolio management, and others. 

A prominent trend emerging in the South Korea augmented analytics in BFSI market is the integration of Natural Language Processing (NLP) and conversational analytics into augmented analytics technology. This integration is enabling BFSI organizations to extract insights from unstructured textual data, such as customer feedback, e-mails, and social media interactions. It is expected to enhance customer analytics by providing a deep understanding of customer preferences and meeting their requirements accordingly. 

Another noteworthy trend arising in the market is rise of Explainable AI (XAI) in augmented analytics. As AI and ML algorithms have become more intricate, explainability becomes essential, particularly in context of regulatory compliance. BFSI institutions are significantly seeking augmented analytics solutions that provide transparent insights, allowing them to explain the rationale behind critical business decisions, thereby building trust with regulators and stakeholders. In addition, BFSI institutions are keen to adopt cutting-edge technologies that can improve their decision-making processes and enhance customer experiences. 

Key players operating in the market include Samsung SDS, Mirae Asset Daewoo, Hana Bank, Hyundai Motor Group, KDB Bank, Shinhan Financial Group, Woori Bank, KEB Hana Bank, KB Financial Group, and Nonghyup Bank. To succeed in the South Korea augmented analytics in BFSI market, these companies are employing numerous strategic approaches.  

New product development is a strategy adopted by companies to enhance their offerings with advanced features and capabilities to stay ahead in the competitive market. Many market players are engaging in strategic acquisitions to expand their product portfolios and gain a competitive edge. In addition, companies are focusing on optimizing their financial resources to invest in R&D, marketing, and expansion efforts. Diversification is a strategy adopted to cater to different segments of the BFSI sector and address the unique needs of various institutions. Furthermore, effective marketing strategies, including content marketing, thought leadership, and digital marketing, are essential to reach and engage potential customers. Moreover, a well-defined go-to-market strategy that includes identifying target customer segments, distribution channels, and sales approaches tailored to the BFSI sector's requirements is crucial to garner high market share. 

Key Benefits For Stakeholders

  • Enable informed decision-making process and offer market analysis based on current market situation and estimated future trends.
  • Analyze the key strategies adopted by major market players in South Korea augmented analytics in BFSI market.
  • Assess and rank the top factors that are expected to affect the growth of South Korea augmented analytics in BFSI market.
  • Top Player positioning provides a clear understanding of the present position of market players.
  • Detailed analysis of the South Korea augmented analytics in BFSI market segmentation assists to determine the prevailing market opportunities.
  • Identify key investment pockets for various offerings in the market.

Need More Information

pr-det-talk Talk to David (Europe)

pr-det-talk Talk to Sona Padman (Americas)

5933 NE Win Sivers Drive #205,
Portland, OR 97220 United States

pr-det-phone Toll Free: +1-800-792-5285

pr-det-phone UK: +44-845-528-1300

pr-det-phone Hong Kong: +852-301-84916

pr-det-phone India (Pune): +91 2066346060

pr-det-phone Fax: +1(855) 550-5975

pr-det-phone help@alliedmarketresearch.com


For Media Inquiries, Please Contact

Allied Market Research
Contact Toll Free: +1-800-792-5285
Drop us an email at

Looking for Customization?

 Customization Request

Have a Question?

 Speak with Analyst

Any Confusion?

 Inquire Before Buying

Have a glance of the Report

  Request Free Sample

First time buyer?
Check offers and discount on this report
To get this report

Click Here

quote South Korea Augmented Analytics in BFSI Market by Component (Solution, Service), by Deployment Model (On-premise, Cloud), by Enterprise Size (Large Enterprises, Small and Medium-sized Enterprises), by Application (Risk and Compliance Management, Customer Analytics, Fraud Detection, Portfolio Management, Others): Opportunity Analysis and Industry Forecast, 2023-2032 quote

View Report

Avenue: Entire Library membership of Allied Market Research Reports at your disposal

  • Avenue is an innovative subscription-based online report database.
  • Avail an online access to the entire library of syndicated reports on more than 2,000 niche industries and company profiles on more than 12,000 firms across 11 domains.
  • A cost-effective model tailored for entrepreneurs, investors, and students & researchers at universities.
  • Request customizations, suggest new reports, and avail analyst support as per your requirements.
  • Get an access to the library of reports at any time from any device and anywhere.




To ensure high-level data integrity, accurate analysis, and impeccable forecasts


For complete satisfaction


On-demand customization of scope of the report to exactly meet your needs


Targeted market view to provide pertinent information and save time of readers


Featured Readings


Published Date Feb 2024

Plywood Market

Download Sample

Published Date Feb 2024

Torpedo Market

Download Sample

Buy Full Version
"South Korea Augmented Analytics in BFSI Market—Allied Market"
Purchase Enquiry

Get fresh content delivered

Get insights on topics that are crucial for your business. Stay abreast of your interest areas.

Get Industry Data Alerts

Why Allied Market Research?

Infallible Methodology

To ensure high-level data integrity, accurate analysis, and impeccable forecasts

Analyst Support

For complete satisfaction


On-demand customization of the scope of the report to exactly meet your needs


Targeted market view to provide pertinent information and save the time of readers