Woori Bank to Launch Unstructured Data Assetization Project for First Time in Korea

President Lee Won-duk of Woori Bank. (Photos: Woori Bank)

Woori Bank announced on February 21 that it will launch an unstructured data assetization project for the first time in the Korean banking industry.

The bank plans to use unstructured data as an asset with artificial intelligence (AI) technology to help employees work more efficiently and enhance AI-based interactive customer consultation services.

Unstructured data at banks refers to data in the form of text such as business manuals and product manuals. It usually accounts for a large portion of corporate data and is highly important.

But its utilization is significantly limited due to the irregularity of formats. This project aims to maximize the utilization of unstructured data using AI technology.

Various types of unstructured data will be structured for easy utilization through the initiative, and AI-based data exploration will be used to search for accurate information based on natural language.

Finally, by providing answers through an AI-based answer generation function, Woori Bank will help employees boost their work efficiency.

At the same time, the bank will lay the foundation for customer response services in the form of conversations.

“Woori Bank has been making efforts to develop AI models based on various structured and unstructured internal and external data and use them for customer service,” a Woori Bank official said.

“This unstructured data assetization project is expected to develop various AI services that are differentiated from those of other banks and will create an opportunity to further increase Woori Bank’s data competitiveness.”

Launching Ceremony for Woori My Love Trust Partners

Woori Bank announced that it held an inauguration ceremony for the Woori My Love Trust Partners at Woori Bank’s Seoul Human Resources Development Center on February 22.

The ceremony was attended by Song Hyun-joo, deputy head of Woori Bank’s Investment Product Strategy Group, who appointed 40 newly selected PB branch managers as members of the Woori My Love Trust Partners.

Woori My Love Trust Partners is a group of wealth succession trust specialists comprised of PB branch managers selected from branches nationwide. This group is aimed at providing stable wealth management and wealth succession services using trust products.

Rather than the passive marketing method that relies on introductory sales and tax and legal experts at existing branches, Woori Bank plans to boost its asset succession trust consulting capabilities and counseling capabilities through in-depth education and training on asset succession, and gradually develop them into professional salespeople who can directly identify target customers and conduct consultations.

“As interest in inheritance and bequests has been growing recently, we will provide more specialized and differentiated financial services to our customers by cultivating specialized salespeople for asset succession consulting,” a Woori Bank official said.

Woori Bank announced on March 16 that it officially launched Catholic Pay, the world’s first non-face-to-face Catholic contribution service, in collaboration with Woori Card.

Launch of World’s First Mobile Donation Service for Catholics

Woori Bank announced on March 16 that it officially launched Catholic Pay, the world’s first non-face-to-face Catholic contribution service, in collaboration with Woori Card.

According to Woori Bank, the Catholic Pay service is a mobile contribution service that can replace offline cash contribution.

The service is linked to “Catholic Hasang,” an official mobile app of the Catholic Church in Korea, making it accessible to all believers.

In particular, Catholic Pay is an integrated payment platform service that further enhances convenience by enabling simple online and offline contributions as well as simple remittances between believers.

Catholics can check their contribution histories in real time and receive year-end tax credits through Catholic Pay.

Previously, Woori Bank supported the establishment of a platform dedicated to Catholics which offer various services such as Bible reading, pilgrimage, goal setting, volunteering, and education through Catholic Hasang.

“With the launch of Catholic Pay, we will provide simple payment services to institutions, schools, religious organizations and companies that have had difficulty establishing direct payment systems,” a Woori Bank official said.