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| KEB Hana Bank Innovation & ICT Group Deputy President Kwon Gil-joo, second from right, poses with officials from the bank and SK C&C at the bank's headquarters in Seoul, July 19. Courtesy of KEB Hana Bank |
By Lee Kyung-min
Financial groups are rushing to beef up their IT capabilities in a move to facilitate digitization, a much-prioritized initiative among global financial services firms.
KEB Hana Bank said Monday that it has set up a big data platform, the first Korean bank to do so.
The platform will become a hub where data specialists are able to collect, share, analyze and utilize stored data in a more integrated way.
This will help the bank outline a long-term, consistent and goal-oriented work process, mainly through greater and faster access to what has widely remained privileged information exclusive to select groups of workers at certain departments.
"Data management will be improved significantly," a KEB Hana official said.
"Not only data that had long been shared in-house including accounting or performance figures, but also those on user activities involving social media will be broadly managed together. Our software will convert audio files of customer responses to text files. We will be able to subsequently increase data volume."
Another strong point of the platform is its sandbox-based operating system, distinguished by its ability to prevent data overload and unwanted data modification or removal.
The new platform will be used to develop financial products based on data analysis of customers' consumption and mobility patterns via timely notification on available loans.
A more accurate assessment will be made on the possible default by corporate customers.
Data specialists will be able to create visual aids that will help workers better understand the bank's work process and identify problem areas.
"Our overall work processes will become more efficient and workers will be able to come up with solutions much faster than before, a step closer to becoming a data-based entity, the motto of our bank and Hana Financial Group," the official said.
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| KB Financial Group Chairman Yoon Jong-kyoo, center, cuts tapes with heads of group subsidiaries at the opening ceremony of the group IT center, July 19. Courtesy of KB Kookmin Bank |
On July 19, KB Financial Group established a comprehensive IT center, which will put together human resources and physical infrastructure together to create synergy.
IT officials with group's subsidiaries to work there include those from bank, insurance, card and securities.
The center in Gimpo, Gyeonggi Province, sits on a 40,236 square-meter lot with two buildings ― a four-story building with two basements where IT officials work and a seven-story building where servers are set up.
"The center will function as the group's control tower of IT departments thereby maximizing work efficiency," group chairman Yoon Jong-kyu said at the ceremony.
