Woori Bank Launches Full-Scale 'Future Finance Business' Based on Metaverse

‘Metaverse Alliance' Membership Enrollment
Collaboration on Joint Projects with Member Companies Including Samsung Electronics and Hyundai Motor

Kwon Kwang-seok, CEO of Woori Bank, is taking a selfie with MZ employees who accessed the metaverse platform under the nickname "Jeongwangseokhwa."

[Asia Economy Reporter Jin-ho Kim] Woori Bank announced on the 5th that it will actively promote future financial business based on the metaverse simultaneously with joining the ‘Metaverse Alliance.’

The ‘Metaverse Alliance’ is a private ‘K-Metaverse Coalition’ consisting of about 200 member companies including Samsung Electronics, Hyundai Motor, SK Telecom, Naver Labs, and EBS, promoted by the Ministry of Science and ICT as part of the government’s Digital New Deal policy.

Earlier, Woori Bank reviewed future financial services utilizing metaverse technology and platforms as a preemptive response to the virtual economy, starting with the communication event ‘Meeting Time between the Bank President and the MZ Generation’ using SK Telecom’s metaverse platform ‘ifland’ last month.

Going forward, the bank plans to promote the development of a metaverse future financial platform and offline metaverse branches as joint industry projects within the Metaverse Alliance.

The ‘Metaverse Future Financial Platform’ will use AI bankers based on digital humans to develop services from the user’s perspective with industry experts on how Woori One Banking should evolve in the future metaverse era.

The ‘Offline Metaverse Branch’ aims to provide a new user experience by adding augmented reality (AR)-based financial information and services to physical branches, in line with Woori Bank’s digital transformation direction of ‘digitalizing user-friendly bank branches.’

A Woori Bank official stated, “To ensure the substantial progress of the metaverse-based future financial project, we plan to build a close collaborative network with companies participating in the ‘Metaverse Alliance’ and swiftly promote the business to internalize key technologies and provide new customer experiences.”