Medical AI company Lunit announced on the 5th that it will be participating in the establishment of an internet-only bank. Lunit will join the U-BANK consortium, including Lendit, Jobis & Villains, Travel Wallet, and Hyundai Marine & Fire Insurance, to establish Korea’s fourth internet-only bank.

An interesting part of the information is the Lunit’s role within the consortium. “The company aims to develop insurance services personalized to individuals and accurate,” Lunit announced. Lunit plans to utilize the data gathered from its ‘Lunit INSIGHT,’ the company’s primary product of artificial intelligence (AI)-enabled cancer detection, to develop insurance products with exceptional accura