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Banks turn to employees to break the mold

Amid slowing momentum in the banking industry and rising competition from fintech players, major financial groups are looking to break away from the status quo and design a new business paradigm.

In an attempt to deviate from the conventional banking-focused mindset, most have chosen to fuel in-house ventures this year, encouraging the units to experiment with digital transformation in order to come up with new business ideas.

The latest example is the state-run Industrial Bank of Korea, which in late January kicked off two in-house venture teams: Creative is in charge of innovative advertising content, and IBK Bobae is dedicated to pioneering new business road maps.

Banking Industry News

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