LG CNS Joins Korean SOHO Bank Consortium

LG CNS is joining the Korea SOHO Bank (KSB) consortium, taking the lead in innovating South Korea's financial infrastructure. With unparalleled technological prowess and expertise in artificial intelligence (AI), cloud, big data, and AI transformation (AX), LG CNS is poised to provide critical capabilities to the KSB consortium, enabling it to flexibly respond to the rapidly changing financial environment and to build and operate a stable infrastructure. LG CNS has already demonstrated its technological capabilities by leading the adoption of AI in the financial sector. It recently spearheaded the successful establishment of a generative AI platform for NH Nonghyup Bank and a generative AI-based customer service agent response system for Shinhan Card. Furthermore, it has contributed to accurately reflecting specialized knowledge from the actual financial field by developing financial-customized AI evaluation tools that enable financial companies to build their own LLMs while maintaining security. The KSB consortium, led by Korea Credit Data (KCD), includes major financial institutions such as Woori Bank, NH Nonghyup Bank, Hana Bank, BNK Busan Bank, and OK Savings Bank, along with Woori Card, Eugene Investment & Securities, and IT companies like IT Sens and Megazone Cloud. KCD, the core of the consortium, provides the business management service 'Cashnote' to 1.7 million small business owners and has expanded its influence to 2.3 million businesses with its community partners. Cashnote has evolved beyond ledger and sales management into a super app specifically tailored for small business owners, offering management, financial services, product procurement, and community features. LG CNS's participation is expected to enable more meaningful and stable utilization of small business owner data held by KCD, thereby laying a strong foundation for all consortium participants to collaborate in providing the best financial services for small business owners in South Korea and to create 'South Korea's First Bank for Small Business Owners.'