Lightweight In-House Developed Framework
Optimized for IT Systems of Small and Medium-Sized Financial Institutions
Welcome Savings Bank announced on June 13 that it will commercialize its self-developed financial standard development framework, 'Wellcore'.
Wellcore is a financial IT standard development framework independently developed by the Artificial Intelligence and Information Communication Technology (AICT) Service Division of Welcome Savings Bank. The company plans to commercialize Wellcore by referencing the business models of overseas technology companies and to strengthen its digital competitiveness.
The framework was designed with an independent modular structure, applying the development and operational know-how that Welcome Savings Bank has accumulated in building and managing IT systems.
Wellcore is designed to be developed according to client requirements. It organically integrates key operations such as customer information management and transaction processing. The company has enhanced both maintenance efficiency and security.
Compared to existing commercial solutions, Wellcore features a more flexible customization process and a lightweight design, making it well-suited for small and medium-sized financial institutions.
The Wellcore development project began in 2023, and the company completed copyright registration in December of last year. Trademark and patent registrations were finalized in March and April of this year, respectively.
In August of last year, Welcome Savings Bank supplied Wellcore to affiliates within the Welcome Financial Group.
To expand its IT business, the company plans to supply the system to small and medium-sized financial companies both domestically and internationally. It is also considering the potential for export.
Kwon Younggwan, Head of the AICT Service Division at Welcome Savings Bank, said, "By supplying Wellcore to our group affiliates, we have proven the stability and performance required for real-world operations, and the framework upgrade process is progressing smoothly. Recently, we have received positive feedback from small and medium-sized financial institutions in Korea and Southeast Asia, and we are in discussions with some companies regarding system supply."
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