Hana Bank has initiated the design phase for an artificial intelligence (AI) transformation (AX) aimed at applying AI across its entire operations. With advancements in generative AI and AI agent technology, along with improvements in network separation regulations, the scope of AI utilization in the banking sector is expected to expand rapidly.
According to the financial sector on September 16, Hana Bank recently announced it is selecting a vendor to carry out the 'AX detailed design.' This involves establishing a system and infrastructure for applying AI across banking operations and defining the specific requirements needed for advanced AI services.
Hana Financial Group has identified AI as a core growth driver for the future and is applying it across its major subsidiaries. This detailed design is seen as a preparation to expand AI services, which have been introduced in individual operations, into a common system and infrastructure for the entire bank.
The areas of AI application in the banking sector are expanding beyond customer consultations and product guidance to include customer management, asset management, credit assessment, internal controls, and business automation. As AI becomes capable of supporting repetitive tasks such as information retrieval, analysis, and report writing, expectations for productivity improvements are also growing.
Investments in related IT infrastructure and security are continuing. According to the Korea Internet & Security Agency (KISA), the total IT investment by KB Kookmin, Shinhan, and Woori Banks last year reached 1.3965 trillion won, a 3% increase from the previous year. Including Hana Bank, the total investment by the four major commercial banks amounted to 1.8086 trillion won.
Improvements in network separation regulations by financial authorities are also expected to support the expansion of AX. The Financial Services Commission is considering temporarily relaxing network separation regulations for financial companies utilizing high-performance AI for security purposes and is reviewing ways to broaden the scope of regulatory improvements based on operational results.
A banking sector official stated, “Financial institutions handle sensitive customer and transaction information, which limits their ability to use external AI services. If network separation regulations are eased, the scope for utilizing generative AI and cloud services will expand, enhancing operational efficiency and accelerating the development of financial services.”
* This article has been translated by AI.
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