Highly recognized for its excellence in responding to climate change through ESG management
Chairman Yoon Jong-kyoo of KB Financial Group. (Photo: KB Financial Group)
KB Financial Group’s financial cloud services successfully passed a safety test by the Financial Security Institute along with Amazon Web Services (AWS). The test checked 109 basic protection items and 32 additional protection items for the safety of the cloud services, including technical and administrative safeguards.
The KB Financial Group signed an EA contract with AWS in March for the first time in Korea, and successfully passed the safety test, becoming fully eligible to utilize cloud services with excellent security and reliability.
The results of the test can be shared among affiliates of KB Financial Group, which will shorten the introduction process and time of AWS Cloud Service across the financial organization, thereby enabling it to quickly meet customer needs.
Moreover, the group will accelerate digital innovation by expanding the operation of “Liiv M,” the first integrated financial and telecommunication service to AWS, and the “Building My Data Platform” Project, which KB Kookmin Card is pushing forward with by selecting AWS as a cloud service provider.
KB Financial Group’s own financial cloud system, called ‘CLAYON,’ operated multiple system centers geographically to provide uninterrupted services in the event of an emergency. In the future, the safety of the CLAYON Service has strengthened as cloud services will be used, too.
“The introduction of cloud services to the financial sector holds the key to responding to regulatory changes such as MyData and provide customer-centered services,” a KB Financial Group official said.
“The KB Financial Group has been working closely with AWS to continue digital innovation while complying with domestic electronic financial supervision regulations. Based on this, we will provide KB Financial Group customers with more differentiated experiences and value.”
In the meantime, the KB Financial Group was selected as an honor financial company in the carbon management sector for the third consecutive year in recognition of its achievements in combating climate change at the CDP Climate Change 2019 in late April.
The Carbon Disclosure Project (CDP) is a global non-profit organization and an evaluation index that provides financial investment institutions around the world with companies’ key environmental information and data.
In 2019, 8,400 companies worldwide disclosed their environmental management information through CDP. The CDP Korea Committee evaluated management information related to climate change among the top 200 companies in market capitalization and selected outstanding companies in nine sectors including finance.
In March, the KB Financial Group has been speeding up its push by establishing the ESG Committee in order to speed up and continue to implement ESG management, which encompasses both environmental protection and social responsibility, at a time when companies’ roles and social responsibilities in responding to climate change are more emphasized.
The members of the committee are all internal and external board members including chairman Yoon Jong-kyu.
“The KB Financial Group will take the lead in responding to climate change and protecting the environment by putting ESG management practices into practice ahead of others,” a KB Financial Group official said.
“We will do our best to play a positive role based on finance and carry out eco-friendly activities with customers so that our future generations can fulfill their dreams in a clean environment.”
Meanwhile, the KB Financial Group has been strengthening its global leadership by actively participating in the Global Initiative and activities of international organizations in the environmental sector.
The financial group joined the United Nations Environment Programme Finance Initiative (UNEP FI) as a signatory organization, and is the only Korean financial company to participate in the UNEP FI Climate Convention to reduce carbon-intensive businesses and come up with joint responses to increase the proportion of eco-friendly businesses with 31 global institutions.