Woori Bank Enhances Asset Management Platform... "Analyzing All Financial Assets via Open Banking"

[Asia Economy Reporter Song Seung-seop] Woori Bank announced on the 28th that it has enhanced its asset management platform by strengthening the personalized portfolio recommendation and financial asset analysis functions for individual customers in its mobile banking application WON Banking.

With this enhancement, it is now possible to analyze all financial assets registered through open banking across financial institutions. It has also become possible to recommend customized portfolios reflecting long-term investment tendencies through big data.

The asset management robo-advisor, ‘Woori Robo-Alpha,’ recommends portfolios reflecting customers’ investment tendencies and market conditions, explaining the reasons behind the recommendations. It also provides financial market outlooks by asset type to help customers respond to rapidly changing financial markets.

The newly established retirement pension robo-advisor manages the returns of defined contribution (DC) and individual retirement pension (IRP) accounts, where individuals directly instruct the management of their accumulated funds. It also offers rebalancing alerts and portfolio change recommendation functions.

Starting in May, video consultations and advance branch visit reservation services for PB customers will also be implemented.

A Woori Bank official stated, “Through the advancement of the digital asset management platform, we can meet the diverse financial needs of each customer and provide hyper-personalized financial services. Moving forward, we will focus on leading the digital financial market by collaborating with other affiliates within Woori Financial Group to develop asset management services incorporating MyData.”

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