KB Kookmin Bank Completes Phase 1 of Core Banking Modernization, Overhauls Unsecured Consumer Loan Process
TECHWORLD ·
✦ AI Summary
KB Kookmin Bank has completed phase 1 of its core banking modernization project.
This first phase focused on shifting the process from consumer loan application to review to a digital-centric system.
The bank built a non-face-to-face consumer loan platform and a consumer loan integrated image platform, and phase 2 is also under way.
KB Kookmin Bank has completed phase 1 of its core banking modernization project. This first phase focused on shifting the consumer loan process from application to review to a digital-centric system. KB Kookmin Bank built a new digital-based consumer loan platform, with the project aimed at improving the non-face-to-face consumer loan process.
At the application stage, the bank streamlined the non-face-to-face loan application process. As a result, customers can now apply for loans through the interactive "1Page 1 Action" process, which uses a single-screen, single-question format. The introduction of "1Page 1 Action" has also improved the ease and intuitiveness of the application process.
At the review stage, the bank moved the mainframe-based consumer loan review operations to a cloud environment. It also advanced the collateral valuation and credit evaluation procedures, boosting the efficiency of loan review operations and improving loan review speed.
KB Kookmin Bank also built a "Consumer Loan Integrated Image Platform." The platform has a function that checks documents submitted by customers in real time. This has also strengthened connectivity between non-face-to-face and face-to-face channels.
KB Kookmin Bank has been pursuing the project in stages based on its core banking modernization roadmap. Last November, it moved lending support operations to the cloud and also transitioned its common infrastructure system to the cloud. It then completed phase 1 by expanding the scope to the non-face-to-face consumer loan area this time.
KB Kookmin Bank is currently carrying out phase 2 of its core banking modernization project. Phase 2 includes rebuilding KB Star Corporate Banking, further cloud migration of core banking, and establishing a multi-core banking foundation. Based on this, KB Kookmin Bank plans to build a next-generation financial platform, with an open target in the fourth quarter of 2027.
KB Kookmin Bank said the significance of this project lies in strengthening the foundation for digital financial innovation through core banking modernization. It added that the bank will continue to strengthen its digital financial competitiveness and provide customers with more convenient and differentiated financial services.
Source: TECHWORLD · Lee Gwang-jae
Original: https://www.epnc.co.kr/news/articleView.html?idxno=408522
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Source: TECHWORLD
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