Artificial intelligence is fundamentally changing the competitive landscape of the financial industry. In personal finance, hyper-personalized services are crucial for competitiveness, while in corporate finance, the precision of data analysis determines success. Lee Hee-soo, CEO of Jeju Bank, is among the first regional bank leaders to recognize these changes.
He does not view AI merely as a tool for automating tasks or chatbots. Instead, he envisions a new financial ecosystem where banks can take on the role of Chief Financial Officer (CFO) by connecting actual business data with finance. In collaboration with Douzone Bizon, he launched the digital corporate finance brand 'DJ Bank' and is promoting alternative credit assessments and an AI CFO model that combines ERP data and AI.
Lee's initiative to leap beyond the limitations of regional banks and establish an AI-based corporate finance platform is regarded as one of the most innovative AI strategies in the domestic financial sector.
AI innovation has also transformed the organization itself. Lee did not stop at merely declaring the importance of AI; he established the first dedicated AI organization in a regional bank and created a separate AI unit within the ERP Banking Business Division. By hiring specialized personnel to focus on the development and operation of AI services, he expressed his commitment to elevating AI as a core growth strategy for the bank.
Unlike most regional banks that treat AI as a function of their digital departments, Jeju Bank has restructured AI as a central organizational function. He believes that AI agents will become a unique competitive advantage for Jeju Bank in the long run.
The core of Lee's strategy lies in the integration of ERP and AI. Jeju Bank, in partnership with Douzone Bizon, has launched the digital corporate finance brand 'DJ Bank' with a vision to surpass the limitations of traditional corporate finance. Until now, corporate finance has relied heavily on historical financial statements and collateral-based assessments.
However, DJ Bank combines over 4 million corporate ERP data points with various alternative information to analyze actual transaction flows, cash flows, and business capabilities. This new alternative credit assessment system allows for more accurate identification of strong companies and early detection of potential risks. AI is evolving into a financial tool that analyzes not only a company's present but also its future growth potential.
One of Lee's most innovative concepts is the 'AI CFO.' He believes that banks should not merely serve as institutions that lend money. In the future, they must analyze a company's cash flow, recommend necessary financial products, and support fund execution in the role of a CFO.
DJ Bank aims to create a self-directed financial system that utilizes ERP data and AI for cash forecasting, recommendations, and execution. It plans to develop a comprehensive financial platform that handles utility payments, cash collection, corporate card issuance, and secured loans against receivables all within the ERP framework. This represents a new ecosystem where corporate management and finance are interconnected, moving beyond traditional banking models.
Lee is also actively utilizing AI for organizational innovation, not just customer service. Jeju Bank has established a generative AI platform that allows employees to develop and utilize their own work-related AI agents. By having AI handle repetitive tasks such as report writing, document preparation, internal control checks, credit review support, and regulation searches, employees can focus on high-value tasks like customer consultations and business analysis. He emphasizes that AI should not be seen as a tool for a select few experts but should become a standard work method for all employees. Establishing AI as part of the organizational culture is the true essence of AI transformation.
Lee's AI strategy aligns with the concept of productive finance. Through ERP-based alternative credit assessments, companies lacking collateral or with limited financial histories can now be evaluated based on actual operational data. This approach is expected to uncover more quality small and medium-sized enterprises and expand inclusive finance.
Notably, the AX solution loan, which supports the costs of adopting AI and ERP, along with ERP-linked receivables-backed loans, represents a new model where finance directly supports companies' digital transformations. He believes that finance should not merely follow corporate growth but should proactively support corporate innovation.
Lee's entrepreneurial spirit in finance can be summarized as 'finance that integrates into corporate management.' He views AI not as a cost-cutting tool but as an innovative technology that can change the paradigm of corporate finance. The model that analyzes actual corporate data by combining ERP and AI, and supports cash forecasting and financial decision-making through an AI CFO, is a novel attempt rarely seen in traditional banks.
His philosophy is that the path to overcoming the limitations of regional banks lies not in competing on scale but in innovation. The AI corporate finance platform that Jeju Bank is pursuing is not just digital finance; it represents a blueprint for future finance where banks evolve into growth partners for businesses.
* This article has been translated by AI.
Copyright ⓒ Aju Press All rights reserved.