Korean Federation of Community Credit Cooperatives upgrades deposit and loan IT systems, launches frontline advisory panel

[Financial News] The Korean Federation of Community Credit Cooperatives is upgrading the core IT system that handles key financial transactions, including deposits and loans. It aims to improve the aging system while incorporating the needs of staff on the ground to boost work efficiency.
According to financial industry sources on the 4th, the Korean Federation of Community Credit Cooperatives held a team-building workshop with LG CNS at LG Sciencepark in Magok, Gangseo-gu, Seoul, on the 30th of last month for its core banking system modernization project, and launched an advisory panel.
About 250 representatives from the two companies attended the event, strengthening mutual understanding and rapport and reaffirming their commitment to working together for the successful implementation of the project. The advisory panel will review the requirements of operational departments and ensure they are reflected in the system development process.
The core banking system is the central IT system that handles key financial transactions, including deposits and loans.
The Korean Federation of Community Credit Cooperatives plans to continue upgrading its IT systems across the board to strengthen its competitiveness in digital finance and respond to the rapidly changing financial environment.
A representative of the Korean Federation of Community Credit Cooperatives said, "We will continue close communication and cooperation among project participants to ensure the project is successfully carried out."
[email protected] Lee Hyun-jung Reporter