KB Financial Group Establishes Vice Chairman Position to Strengthen Digital Promotion Organization

Financial Holding Company Establishes 'Vice Chairman' Position
Supports Synergy Creation Among Insurance Affiliates and Global Business Expansion
Key Point of Kookmin Bank's Organizational Restructuring is Laying the Foundation for a Major Shift to a 'Financial Platform Company'

[Asia Economy Reporter Park Sun-mi] KB Financial Group has implemented an organizational restructuring on the 29th, focusing on strengthening the 추진력 of its core group businesses, ‘Insurance and Global’ sectors, and enhancing the digital division to leap forward as the ‘Number One Financial Platform Company.’

First, the group established a new ‘Vice Chairman’ position to lead the insurance and global business sectors, which have recently expanded in importance within the group through mergers and acquisitions (M&A). Through this, the group plans to support the organic integration of Prudential Life Insurance, newly incorporated as a subsidiary this year, and create synergies among insurance affiliates such as ‘KB Insurance, Prudential Life Insurance, and KB Life Insurance,’ while accelerating the global business expansion primarily focused on Southeast Asia.

Additionally, to strengthen the group’s platform competitiveness in becoming the ‘Number One Financial Platform Company,’ the existing Chief Digital Innovation Officer (CDIO) position was changed to Chief Digital Platform Officer (CDPO). The CDPO will be responsible not only for the group’s digital platform innovation but also for improving customer experience and quality assurance within the digital platform, thereby promoting the establishment of a truly customer-centric financial platform.

On the same day, KB Kookmin Bank also carried out its 2021 regular organizational restructuring under the theme of ‘Implementing an innovative organizational system to leap forward as the Number One Financial Platform Company.’ The core of the restructuring is to lay the foundation for a major transformation into a ‘financial platform company,’ with key features including ▲establishment of platform organizations ▲strengthening customer marketing ▲and rapid execution capabilities.

The bank newly established 25 platform organizations where business (Biz) and technology (Tech) teams work together within 8 business groups, aiming to accelerate digital innovation. It also strengthened the headquarters’ marketing organization to expand the core customer base, support branch performance, and enhanced competitiveness by streamlining decision-making lines and improving work efficiency in headquarters departments.

Core business division names that will lead KB Kookmin Bank’s future growth, such as My Data Platform Team, Personal Marketing Team, Liiv Mobile Platform Team, Future Contact Center Promotion Team, Institutional Sales Promotion Team, and Cloud Platform Team, have been designated with the suffix ‘Team (Dan),’ and department heads at the headquarters level have been appointed to significantly enhance decision-making speed and execution power. Through this, the bank plans to secure practical business competitiveness and accelerate market preemption based on a ‘responsible management system’ that strengthens accountability and authority.

Furthermore, to secure sustainable competitiveness in the capital markets sector, the bank added one headquarters and two departments responsible for capital market digitalization and related tasks, reorganizing into a system of 1 group, 2 headquarters, and 9 departments.

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