Woori Bank to Support AI Transformation in Public Institutions

Woori Bank is embarking on a collaboration to support AI Transformation (AX) in the public and institutional finance sectors.

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On January 29, Woori Bank announced that it had signed a "Memorandum of Understanding (MOU) for the Expansion of AI and the Strengthening of Financial and Industrial Cooperation" with the Korea Commercial Artificial Intelligence Software Association at the Woori Bank headquarters in Jung-gu, Seoul. This agreement aims to expand the use of AI and software (SW) technologies in public institutions and institutional finance, and to establish a cooperative system linking finance and technology.

Under the agreement, the two organizations will pursue: ▲ joint development of AI-based financial and administrative convergence services for public institutions; ▲ acceleration of digital transformation (DX) and AI transformation in finance and administration; and ▲ cooperation in core technology areas such as data analysis, automation, and security. Through these initiatives, they plan to build an AI-based operational environment that enhances work efficiency and service quality across the public and institutional finance sectors.

The Korea Commercial Artificial Intelligence Software Association will provide technical consulting and match participating companies based on its AI and SW technology trends and member network. Woori Bank will leverage its institutional finance customer network and financial expertise to plan and implement AI-based financial services. Both parties also plan to expand joint projects targeting public institutions, local governments, and educational organizations in the future.

Oh Yunho, President of the Korea Commercial Artificial Intelligence Software Association, stated, "We will make Woori Bank's financial and institutional infrastructure a key channel for the spread of AI and SW technologies, and create tangible examples of AI innovation in the public and financial sectors." Cho Sehyeong, Deputy President of Woori Bank's Institutional Group, said, "By combining outstanding AI and SW technologies with the bank's financial infrastructure, we will provide customers with more convenient and smarter financial services."

Meanwhile, Woori Financial Group is promoting the transition to AI-based management and work systems through its Future Co-Growth Project, and is continuously expanding AI collaboration models that connect finance and industry. Through these efforts, the group aims to support productive finance and contribute to the expansion of the AI ecosystem.

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