Korea Soho Bank Consortium Includes Woori, NH Nonghyup, Hana, and BNK Busan Bank
LG CNS will participate in the Korea Soho Bank consortium, one of the fourth internet bank consortia.
Korea Credit Data (KCD), which leads the Korea Soho Bank consortium, announced on the 25th that AX specialist company LG CNS will join the KSB consortium.
With LG CNS joining, the KSB consortium has gained the capability to build flexible infrastructure that can adapt to the changing financial environment and operate it stably. LG CNS possesses advanced technology and expertise in the AX (AI Transformation) field through new technology capabilities such as artificial intelligence (AI), cloud, and big data.
LG CNS is leading financial AX. It has started a generative AI platform construction project with NH Nonghyup Bank and completed the establishment of a generative AI-based counselor response system with Shinhan Card. Recently, LG CNS also developed a financial-customized AI evaluation tool for financial companies aiming to introduce generative AI. Due to security reasons such as data leakage, financial companies build their own models trained on open LLMs tailored to each company's situation when adopting AI. LG CNS helps individual financial companies ensure that LLM models accurately reflect service information and expertise used in actual financial field operations.
The KSB consortium includes leading domestic banks such as KCD, Woori Bank, NH Nonghyup Bank, Hana Bank, BNK Busan Bank, OK Savings Bank, as well as financial companies like Woori Card and Eugene Investment & Securities. IT companies such as ITCEN and Megazone Cloud have also confirmed their participation.
KCD provides the management service 'Cash Note' to 1.7 million small business owners nationwide (as of March 2025). In addition, together with community companies such as Korea Payment Networks, a specialist in online and offline payments, I'm U, a POS and kiosk specialist company, Korea Business Experience, the nation's first full-time personal business credit rating agency, and a small business specialized customer experience provider, services are supplied to 2.3 million business sites nationwide. Cash Note started as a bookkeeping and sales management app and has now grown into a super app responsible for every moment of small business operations, including management, financial services, purchasing, and community.
Kim Dong-ho, CEO of Korea Credit Data, said, "With LG CNS, Korea's top AX company, joining the Korea Soho Bank consortium, we can utilize the data for small business owners that Korea Credit Data holds more meaningfully and stably," adding, "Together with all consortium participants, we will create the first bank for small business owners in Korea."
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