|Traditional private equity firms are generally burdened with paper-based processes at the front and back offices. As one of the biggest securities companies in South Korea with a US$4 billion capital, KB Securities set out to build and execute a digital transformation strategy to gain competitive advantage and enhance customer experience. Its plan tackled two main objectives: identifying and developing new business opportunities based on digital technologies and modernizing internal work procedures. These two targets highlighted four different areas: increasing work efficiency, building an integrated ecosystem, strengthening non-face-to-face channels, and digitalizing private banking.|
The enterprisewide implementation of robotic process automation (RPA) has automated 104 individual tasks and has saved 200,000 hours annually. Its robo-advisor service uses open application programming interface (API) to open accounts without personal contact. Additionally, it rolled out a system for categorizing asset types, allocating tactical and strategic assets, and proposing and monitoring model portfolios. Launched in 2017, the comprehensive plan rolled out in successive phases, supporting KB Securities’ transition into becoming a digitally empowered and consumer-oriented organization. With its overall consideration of people, culture, and technologies, KB Securities is positioned to lead the market in the digital era.