Nonghyup Bank Becomes First in Financial Sector to Achieve Top Data Quality Certification

On July 8, NH Nonghyup Bank announced that it has become the first financial institution in Korea to simultaneously obtain Structured Data Quality Certification (Complex-type Class A) and Data Management System Quality Certification (Level 4) from a data quality certification organization designated by the Ministry of Science and ICT.

The data quality certification system is a program in which the Ministry of Science and ICT grants certification grades by comprehensively evaluating the accuracy of data and the adequacy of data quality management systems, based on the Framework Act on Promotion of Data Industry and Utilization.

At the data quality certification award ceremony held at the NH Nonghyup Bank headquarters, Jeong Jiseon, Head of Data Business Division at Nonghyup Bank (left), and Na Jeonghee, Executive Director of CAS, are posing for a commemorative photo. NH Nonghyup Bank

Nonghyup Bank has recently been expanding the scope of its data utilization to include artificial intelligence (AI) and big data-based product recommendations, risk management, and personalized customer services. The 'Complex-type Class A' and 'Level 4' quality certifications obtained this time indicate that financial data is systematically managed without errors and that advanced processes are in place to proactively identify and control data quality issues.

Choi Unjae, Deputy President of the Digital Strategy Business Division at Nonghyup Bank, stated, "This certification demonstrates that Nonghyup Bank's data quality and management system have achieved the highest level of competitiveness in the industry," adding, "We will continue to strengthen our data-driven business capabilities in the future."