Phase 1 of core banking modernization complete

Phase 2 targets launch in Q4 next year

A view of KB Kookmin Bank's headquarters [Kookmin Bank]
A view of KB Kookmin Bank's headquarters [Kookmin Bank]

KB Kookmin Bank has redesigned its entire non-face-to-face household loan process — from application to screening — and migrated the related operations to a cloud environment.

The bank announced Wednesday that it has completed Phase 1 of its core banking modernization initiative and built a new digital-based household loan platform.

The overhaul centers on simplifying the non-face-to-face loan application process and shifting household loan screening work from legacy mainframes to the cloud. The bank focused on upgrading both customer-facing interfaces and internal screening systems to improve loan processing speed and system flexibility.

The non-face-to-face loan application screen now uses a "one page, one action" format, presenting a single question per screen. The approach replaces the previous method of entering multiple pieces of information at once, guiding applicants through each step in sequence to make the process more intuitive.

On the screening side, the bank enhanced its collateral and credit evaluation procedures. It also built a new integrated image platform for household credit that allows staff to check documents submitted by customers in real time, strengthening information sharing between branches and digital channels.

This project represents Phase 1 of KB Kookmin Bank's core banking modernization roadmap. The bank first migrated credit support operations and common infrastructure systems to the cloud in November last year, and has now completed Phase 1 by extending that migration to non-face-to-face household lending.

KB Kookmin Bank is currently working on Phase 2, which includes rebuilding KB Star Corporate Banking, migrating additional core banking functions to the cloud, and laying the groundwork for a multi-core banking architecture. The next-generation financial platform is targeting a launch in the fourth quarter of 2027.

"This project is significant in that it has further strengthened the foundation for digital financial innovation through core banking modernization," a KB Kookmin Bank official said. "We will continue to enhance our digital financial competitiveness and provide customers with more convenient and differentiated financial services."

Meanwhile, KB Financial Group is running an anti-fraud awareness campaign called "Uisim Jeonshim" in partnership with the Korean National Police Agency and the Safe Life Practice Citizens' Coalition to prevent voice phishing, scams and other telecommunications financial fraud. The campaign will release educational content highlighting new schemes such as investment chat-room fraud and deepfake phishing, and will operate a phishing-identification experience booth at the International Security Industry Expo.


rim@heraldcorp.com