Woori Bank said on Feb. 12 it has built the financial industry’s first “AI-based internal controls and safety management system” and will apply it in stages to all branches from March.

On Feb. 5, the bank held a demonstration at its headquarters with bank president Jin-wan Jeong (정진완) in attendance. It shared key functions and use cases of the system and checked the actual operating environment.

The system combines centralised IP CCTV with AI video analysis technology to enable real-time monitoring and swift incident response.

Under the AI-based internal controls system, headquarters monitors CCTV footage from all branches in real time. Using AI video analysis, the bank applied key internal control functions, including detecting unusual signs during major transactions such as large withdrawals and account transfers, automatically extracting and storing cash-counting results based on CCTV, and monitoring compliance with the two-person rule when entering vaults and machine rooms.

The bank expects the system to maximise financial incident prevention by establishing a 24-hour, 365-day monitoring system for all branches. It also expects the burden of branch-level self-inspections to ease.

Se-ryong Han (한세룡), deputy head of Woori Bank’s business support group, said the AI-based internal controls and safety management system is core infrastructure that strengthens both financial incident prevention and swift response. He said the bank will continue to advance its internal control and safety management system to create a financial environment customers can feel safe about.