K Bank has obtained an international standard certification for its risk management system covering the entire process of planning, developing and operating artificial intelligence (AI) services. It said it set standards for ethics, security and risk management and established a companywide management system as AI use expands.

K Bank said on Oct. 19 it has obtained certification under the international standard for AI management systems (AIMS), ISO/IEC 42001, and held a certification award ceremony on Oct. 16.

ISO/IEC 42001 is an international standard for AI management systems jointly established by the International Organization for Standardization (ISO) and the International Electrotechnical Commission (IEC). It sets out management systems across operations, including governance and risk management, data management, security, ethics and transparency for organizations that develop or use AI.

K Bank said the certification recognises that its system for identifying and managing risks that may arise during the planning, development and operation of AI services meets international standards.

Based on the certification, K Bank plans to continue to advance its AI risk management system and expand the use of AI in customer services and internal work.

A K Bank official said, "The more AI use expands, the more important it is to have a system to manage it safely and responsibly." The official added, "We will advance our AI governance and risk management system and expand AI financial services."