FRONTEO to Provide New Solutions for Financial Institutions That Support FSA’s Strategic Directions and Priorities

FRONTEO (NASDAQ:FTEO) (TSX:2158), a leading provider of global eDiscovery and big data analysis services utilizing artificial intelligence technology, announced today that the Company has started providing new solutions to deliver operational reforms for financial institutions by using FRONTEO’s proprietary KIBIT AI engine to conduct compliance checks and expand sales opportunities.

As quoted in the press release:

The financial industry in Japan is experiencing significant changes. Fintech companies have emerged rapidly and falling interest rates have led to new market entrants. Furthermore, Financial Service Agency (the “FSA”) announced its Strategic Directions and Provisions (the “Provisions”) in October 2016, which require a move towards high-quality financial services. The FSA incorporated 55 new benchmarks that require changes in business models for financial institutions, aiming to create shared value for all. They also addressed Fintech in particular and encouraged the use of new financial technologies.

Since October 2015, Lit i View AI Sukedachi Samurai has been analyzing business data at over 20 financial institutions, including banks, securities firms and insurance companies. During test trials at these financial institutions, the Company used KIBIT to deliver services in areas of operational reform, sales promotion, and risk response. Based on the know-how and experience obtained through these opportunities, FRONTEO continues to use KIBIT to analyze the daily information gathered at these financial institutions. As a result, the Company believes it now can provide a new solution that delivers more efficient operational reform at a reasonable cost.

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