[Financial IT Forum] NongHyup Bank Completely Redesigns Organization for AI Banking

Presentation on 'How to Effectively Utilize Data'

Kim Bong-gyu, Head of NH Digital R&D Center at NH Nonghyup Bank, is giving a presentation on the topic "Financial Sector Response Strategies in the Era of Customized AI" at the 13th Asia Economy Financial IT Forum held on the 24th at Lotte Hotel in Jung-gu, Seoul. Photo by Kang Jin-hyung aymsdream@

[Asia Economy Reporter Eunju Lee] Kim Bong-gyu, head of NH Digital R&D Center at NH Nonghyup Bank, mentioned that Nonghyup Bank is promoting a data governance transformation that completely redesigns the internal structure of the organization to provide ‘hyper-personalized’ customized AI (artificial intelligence) banking services.

On the 24th, Kim Bong-gyu, head of NH Nonghyup Bank’s center, gave a lecture on the theme of ‘How to effectively utilize data’ at the 13th Asia Economy Financial IT Forum held at Lotte Hotel in Sogong-dong, Seoul. He explained, “Nonghyup Bank has started the work of redesigning the financial system and organizational governance based on data not only to create future AI services but also to enhance the competitiveness of existing AI services.”

He viewed that in an era where data and AI are actively shared, banks need to redesign their internal structures to provide customized financial services. He said, “Competition among companies is intensifying in an environment where usable data is widely shared,” and added, “To improve each company’s data analysis and utilization capabilities, a redesign of the financial system incorporating data governance is necessary.”

He further explained, “For the services provided by banks to be hyper-personalized and customized, the so-called ‘core’ of the bank must be changed.” This means that rapid decision-making must occur seamlessly throughout the entire process of technology development and service delivery to provide immediate customer-tailored services. Citing the example of BOA (Bank of America), he mentioned, “BOA has an algorithm service that responds to customers 24 hours a day in a customized manner, and developing services like this is important.”

Additionally, he introduced the ‘AI Bank Teller’ as an example of AI services provided by Nonghyup Bank. He said, “The AI Bank Teller, introduced in January this year, was created by synthesizing the faces of 60 male and female employees of Nonghyup Bank, unlike AI teller services of other banks,” and added, “This face swap technology is a distinguishing feature from other companies.” He also added, “In the future, the AI Bank Teller will be integrated into various Nonghyup Bank platforms such as kiosks.”