Woori Bank Transitions to Direct IT Development and Operations Management System
Woori Bank's board of directors resolved on the 24th to partially acquire the business involving the transfer of personnel, assets, and other resources related to IT development and operations from Woori FIS.
Woori Financial Group announced in July that it would transition the IT development and operations tasks, previously outsourced to Woori FIS, to be directly managed by Woori Bank and Woori Card.
With this restructuring, Woori Bank explained that it expects to internalize the IT development tasks previously outsourced to Woori FIS, thereby significantly strengthening its IT capabilities. In particular, it plans to establish and operate an integrated organization capable of business planning, service development, and IT system operations.
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To address potential risks arising from the IT governance restructuring, Woori Bank will operate a separate control tower. Following this board resolution, Woori Bank will undergo organizational restructuring, personnel transfers, and pre-inspections of internal controls, officially launching the restructured IT governance system starting January next year.
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