Forecasting, Full-Scale Digital Transformation Launched... Declaration of 'Digital Forecast'

The Korea Deposit Insurance Corporation (KDIC) has embarked on a company-wide digital transformation.

On the 21st, KDIC announced that it has declared "Digital KDIC (KDIC DX)" to respond to the government's digital innovation policies and effectively cope with the rapidly changing financial environment, and will actively promote a company-wide digital transformation.

[Image source=Yonhap News]

KDIC has set the direction for Digital KDIC around three pillars: ▲building a deposit insurance database (DB) ▲integrated operation of various models for predicting the insolvency risk of financial companies, calculating differentiated insurance premiums, and fund management ▲creating a smart work environment.

Additionally, KDIC has established a company-wide implementation system for carrying out the digital transformation. The Informatization Promotion Committee (Steering Committee) has been expanded and reorganized, a dedicated task force has been newly established, a periodic review system has been set up to monitor the implementation and support of initiatives, and an advisory group composed of external experts related to digital transformation has also been formed.

Next year, based on this implementation system, KDIC plans to establish a "Mid- to Long-term Master Plan for Digital Transformation." This plan will concretize KDIC’s unique vision and mid- to long-term goals for digital transformation and prepare a roadmap to achieve them. It will also establish data governance as the foundation for identifying, utilizing, and managing key data scattered within the organization, and devise measures to create an environment for securing and allocating resources to facilitate smooth digital transformation.

President Yoo Jae-hoon stated, “Through Digital KDIC, we will promote organic and integrated data-driven operations across all areas of KDIC’s work and innovate processes using new technologies.” He added, “We will continue to enhance crisis response capabilities through advanced work processes utilizing new technologies and pursue continuous innovation to improve services for financial contract holders.”

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