NH Nonghyup Bank Launches Next-Generation Core Banking Process Innovation

Kickoff of 'Project NEO'
Aiming for Core Banking Innovation and Digital Transformation

On the 18th, NH Nonghyup Bank announced that it held a kickoff meeting for 'Project NEO' to revamp its core banking system at its headquarters located in Jung-gu, Seoul the previous day.

This project stands for 'Next, Evolutionary, Omni-banking' and aims to drive innovation in core banking through organically evolving next-generation financial services. The project seeks to create new customer experiences and implement a flexible digital financial environment by innovating overall account-related processes such as deposits, loans, and accounting.

Nonghyup Bank has set four detailed directions: responding swiftly and flexibly to non-face-to-face trends based on digital transformation, maximizing work efficiency through business process redesign, innovating the customer journey to enhance customer satisfaction and trust, and transitioning to a future-oriented financial ecosystem.

With professional consulting and a dedicated team, the bank plans to identify tasks and establish an organic collaboration system to gradually open the system by 2029.

Choi Un-jae, Vice President of the Digital Strategy Business Division at NH Nonghyup Bank, stated, "This project will provide new financial experiences to both customers and employees," adding, "We will leap forward as a 'Digital Native Bank' based on core banking innovation."

At the 'Project NEO' kickoff meeting held at the NongHyup Bank headquarters on the 17th, attendees are taking a commemorative photo. Photo by NH NongHyup Bank