Woori Financial Group Launches 'DinnoLab Tech 1st Cohort'... Establishes AI Systems with Affiliates

[Financial News] Woori Financial Group is building AI systems needed in the financial field in collaboration with AI startups. Woori Financial Group is expanding productive finance by providing promising startups with proof-of-concept costs, workspace, and cloud infrastructure.
Woori Financial Group announced on the 3rd that it held the launching ceremony for the 'DinnoLab Tech 1st Cohort' at the DinnoLab Tech Center in Gwanak-gu, Seoul.
DinnoLab is Woori Financial Group's startup incubation program that discovers promising startups and provides business cooperation and investment opportunities. To date, it has identified 231 companies and facilitated 503.9 billion won in investment.
The newly launched 'DinnoLab Tech' is a program that selects and collaborates with startups to solve technical challenges presented by Woori Financial Group affiliates. The four AI startups selected for the first cohort of DinnoLab Tech are scheduled to build AI systems in partnership with major affiliates, including Woori Bank, Woori Investment Securities Co., Ltd., Tongyang Life Insurance, and Woori FIS.
Specifically, Mentat will build an AI asset care solution with Woori Bank that provides customer-specific tax-saving information. Wayker Holdings has agreed to develop an AI assistant with Woori Investment Securities Co., Ltd. to help analyze investment information. Accelerator will develop an AI market-sensing system with Tongyang Life Insurance, and PeekabooLabs will develop document automation AI technology with Woori FIS.
Woori Financial Group provides each project with up to 30 million won in proof-of-concept (PoC) costs, office space, and cloud infrastructure worth 10 million won in cooperation with NAVER Cloud and Amazon Web Services (AWS). Companies that achieve results will receive support not only for technology adoption but also for fund investment.
Ok Il-jin, Head of Digital Innovation at Woori Financial Group, said, "DinnoLab Tech is a program that creates business opportunities by connecting the demands of the financial field with the technology of startups," adding, "We will support the growth of AI startups and further expand productive finance."
Meanwhile, Woori Financial Group launched a startup collaboration project as a pilot initiative within Woori Bank in 2016. In 2020, it launched the DinnoLab business as it expanded startup collaboration, incubation, and support at the group level.
[email protected] Lee Hyun-jung Reporter