NH Nonghyup Bank "Gathering Internal and External DT Ideas"

Transition from Top-Down Planning and Strategy to Bottom-Up Approach Centered on Internal and External Customer Ideas

2020 Hackathon Competition

[Asia Economy Reporter Park Sun-mi] NH Nonghyup Financial Group announced on the 9th that it will accelerate DT innovation by shifting from the existing top-down digital transformation (DT) focused on planning and strategy to a bottom-up approach centered on diverse internal and external ideas.

As a key measure, the bank's 'Digital R&D Center' has been assigned a pivotal role in gathering collective intelligence from both inside and outside, and will serve as the group's 'Shared Service Center.'

Through a cloud-based open collaboration platform, ideas from customers, employees, startups, and university entrepreneurship clubs will be gathered, and after research, investigation, and incubation of advanced digital technologies, these will be implemented into business (such as in-house ventures).

Additionally, the hackathon competition, which started in 2017 as the first in the banking sector, will be held online this year considering social distancing. It will be divided into corporate and general categories to utilize Nonghyup APIs for activating Naver Cloud and OpenAPI, and to develop AI-linked services.

In the future, the scope will be expanded to establish a subsidiary division where NH Nonghyup Financial employees can participate, aiming to create a 'digital first culture boom' and actively discover services linked to subsidiaries.

Chairman Kim Kwang-soo emphasized, “Now that NH Nonghyup Financial's DT is on track, it is necessary to establish a collaborative system that gathers internal and external ideas and connects them to business, accelerating customer-centered digital transformation.”

This content was produced with the assistance of AI translation services.