Gwangju Bank Conducts 2nd Personnel Exchange Program with Toss

[Asia Economy Honam Reporting Headquarters Reporter Park Seon-gang] Gwangju Bank (President Song Jong-wook) announced on the 18th that it recently conducted the second human exchange program with Viva Republica Co., Ltd. (CEO Lee Seung-geun).

In February, at the strategic partnership agreement ceremony between Gwangju Bank and Viva Republica Co., Ltd. (CEO Lee Seung-geun), the operator of the mobile financial platform Toss, the human exchange program, initiated by Gwangju Bank President Song Jong-wook to activate new digital financial services and partnership marketing, held its first session last month when Gwangju Bank employees visited the Toss headquarters.

Gwangju Bank employees experienced the digital mindset of a fintech company that integrates finance and innovative technology in various ways by conducting the problem identification and conclusion derivation process for the "New Marketing Plan for Deposit and Withdrawal Accounts," a joint project between Gwangju Bank and Toss, using Toss's work methods, breaking away from the conventional banking mindset confined to bankers.

The second human exchange program conducted this time involved the Toss Innovation Preparation Corporation, preparing to launch as the third internet-only bank in the second half of this year, requesting to share Gwangju Bank's work processes and know-how. Accordingly, personnel responsible for finance, business support, post-loan management, cards, customer management and product development, security, and other banking operations were matched one-on-one to share expertise.

An employee of Toss Innovation Preparation Corporation said, "Since the opening of the next-generation computer system in 2018, Gwangju Bank has been vigorously promoting its transformation into a digital bank by introducing Paperless Process Reengineering (PPR), Robotic Process Automation (RPA), mobile web banking, robo-advisors (asset management consulting services), and more. We plan to accelerate the launch of the internet-only bank by benchmarking Gwangju Bank."

Gwangju Bank President Song Jong-wook stated, "Amid the expected fierce competition in the financial sector due to fintech and big tech companies entering the financial industry, Gwangju Bank will achieve substantial qualitative growth armed with change and innovation. For the leap toward a sustainable 100-year bank, confidence that does not fear change and passion that turns crises into opportunities are necessary," he urged.