NH Nonghyup Bank Implements Organizational Restructuring Focused on AX and Productive Finance

NH Nonghyup Bank announced on November 27 that it will implement an organizational restructuring effective January 1 next year to proactively respond to changes in the future financial environment, such as the transition to artificial intelligence (AX), strengthening of productive finance, and the establishment of a customer-centric comprehensive financial system, while also enhancing its core business competitiveness.

To address AX, the bank will establish a new 'AI & Data Division' by integrating previously dispersed AI strategy, data analysis, and RPA functions, serving as the control tower for the bank's AI transformation. The Blockchain Team will be expanded and reorganized into the Digital Asset Team (tentative name), which will be dedicated to managing digital assets such as stablecoins.

Within the Digital Division, the platform organization and Process Innovation Department will be incorporated to strengthen the establishment and execution of a unified platform strategy led by the Chief Digital Officer (CDO). The Digital Division will focus on transforming NH All One Bank into a super platform and stably advancing the next-generation core banking project, 'Project NEO.' The Information Technology (IT) Division will be expanded and reorganized into the Tech Business Division (CIO) and Tech Solutions Division (CTO), enhancing technology-driven operational innovation and system reliability.

The bank will also actively respond to the major shift toward productive finance and seek out future growth businesses. The SME Client Department will be reorganized into the Corporate Growth Support Department, which will include the Productive Finance Bureau to ensure that bank funds flow into productive sectors. The Credit Review Department will establish a Strategic Industry Review Bureau to further enhance credit review capabilities. The Investment Management Team within the Agri-Food Growth Investment Group will be expanded to strengthen the discovery of promising agri-food companies.

The bank will also strengthen customer-centric comprehensive financial solutions. The existing Wealth Management (WM) Business Division will be split into the WM Business Division and the Investment Products Division to further develop high-net-worth asset management and premium client strategies. A dedicated team will be established within the Large Corporate Client Department to provide comprehensive corporate financial services, including not only loans and deposits but also foreign exchange, FX, and retirement pensions. The establishment of the Headquarters Corporate Business Department 1 will also expand corporate finance channels.

To focus on financial consumer protection, the bank will increase compliance monitoring staff to strengthen internal controls, and the Consumer Protection Support Bureau will be reorganized into the Financial Fraud Response Bureau, which will be dedicated to responding to financial fraud. For robust information security, the Digital Authentication Center will be placed under the Information Security Division, and the Incident Response Bureau will be strengthened to unify security certification governance.

Kang Taeyoung, President of Nonghyup Bank, stated, "This organizational restructuring focuses on accelerating the AI and productive finance transformation and realizing customer-centric comprehensive financial services," adding, "Nonghyup Bank will proactively respond to changes in the future financial environment and become a bank that delivers greater value to customers and society."

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