Bo-eun leads the digital content team. She has covered foreign affairs, North Korea, tech, economy and gender issues at The Korea Times. She did a short stint at the South China Morning Post in Hong Kong, where she obtained a new perspective on news production and life. Small sources of joy for her are lounging in the sun, having a good latte and swimming.
Woori wins The Banker's 2020 global award for lenders
Woori Bank CEO Kwon Kwang-seok speaks at the lender's strategy meeting for the latter half of 2020 at Woori's headquarters in central Seoul, July 17. Courtesy of Woori Bank
By Kim Bo-eun
By Kim Bo-eun
Woori Bank won The Banker's global award for lenders this year, for its digital services and response to the COVID-19 pandemic.
The award was presented Dec. 2.
The U.K. international financial affairs publication referred to Woori as being "at the forefront of international banking, from digital capacity to its customer services."
Woori Bank introduced an artificial intelligence (AI) integrated screening system to strengthen its sanctions screening process in January. The system has proven useful in monitoring and classifying shipping documents. Woori Bank has filed a patent application for this new method of screening export and import shipping documents.
"A zero-based innovation system was also introduced, which examined business systems across all divisions of the bank, from beginning to end, and introduced multiple improvements to its operations," the publication said.
The Banker also recognized Woori's efforts for better alignment to environment, social and corporate governance (ESG) values by issuing bonds that raised funds for investment in green and social projects.
"The bank is focused on transforming into a future-centric financial firm and reinforcing digital business capabilities by actively incorporating new IT technologies such as big data in all internal processes, from the product and service planning stage to customer marketing," Woori Bank CEO Kwon Kwang-seok said in an interview with The Banker.
"In addition to the strong shock of the pandemic on the global financial market, we plan to establish a foundation for stable business management by enhancing our capabilities in risk and asset quality management."