Woori Bank Applies Electronic Documents to All Branch Operations, First in Banking Sector

[Asia Economy Reporter Kim Hyo-jin] Woori Bank announced that starting from the 9th, it will apply the electronic document system to all branch operations. This means eliminating paper documents in all tasks, including corporate loans, and processing everything with 100% electronic documents. This attempt is the first of its kind in the banking sector by Woori Bank.

The electronic document system processes tasks in the form of electronic documents on devices such as tablet monitors. The document content is shared between the branch staff's monitor and the tablet monitor viewed by the customer. Customers can complete all necessary tasks simply by signing the electronic documents.

Features such as batch signing (a function that replaces multiple individual signatures on various forms with a single signature), form enlargement (increasing the size of forms), and highlighter function (when key points explained to the customer are highlighted, they are simultaneously displayed on both the staff's monitor and the customer's tablet monitor) have also been developed.

With the batch signing function, the time required for personal credit loan tasks has been reduced from the previous 30-45 minutes to 20-30 minutes, and Woori Bank explained that readability and intuitiveness have greatly improved through the tablet monitor during product explanations.

Woori Bank first applied this system to deposit and household loans (credit loans) in June last year. From this day forward, it will be expanded to corporate loans, foreign exchange, card, retirement pension, trust, and fund operations.

A Woori Bank official said, "We enhanced the system's completeness through very meticulous and repetitive testing to ensure there is no inconvenience to customers as we expand the system to all operations."