KB Financial Group is enhancing its consumer protection framework and promoting a consumer-centric work culture across the organization.
On August 26, KB Financial announced that it held the '3rd Financial Consumer Protection Working Council' to improve employees' expertise in consumer protection and establish a consumer-focused operational system.
The council included chief consumer protection officers from 10 subsidiaries, including KB Kookmin Bank, KB Securities, KB Insurance, KB Kookmin Card, and KB Life Insurance. Participants discussed topics such as consumer-oriented product and service management, strengthening the expertise of consumer protection organizations, and refining the consumer protection quality index at KB Kookmin Bank.
Particularly, they examined the entire process from the occurrence of customer complaints to their resolution, assessing the design and operation of processes that customers experience, such as product enrollment and cancellation. They agreed to enhance systems that proactively identify potential consumer inconveniences or damages throughout the entire product and service lifecycle, rather than just responding to individual complaints after the fact.
They also shared strategies for improving the expertise and continuity of consumer protection personnel. Plans include assigning staff with field experience in product development, sales, and legal affairs to consumer protection departments and refining personnel management systems to allow for long-term engagement in related tasks to build expertise.
The council also discussed ways to improve the consumer protection quality index currently operated by KB Kookmin Bank. A special lecture was held for employees responsible for financial consumer protection, featuring Kim Mi-young, former head of the Financial Supervisory Service's Consumer Protection Division, who shared insights on recent consumer protection policies, supervisory directions, and the role of chief consumer protection officers in strengthening consumer protection systems.
On August 26, KB Financial announced that it held the '3rd Financial Consumer Protection Working Council' to improve employees' expertise in consumer protection and establish a consumer-focused operational system.
The council included chief consumer protection officers from 10 subsidiaries, including KB Kookmin Bank, KB Securities, KB Insurance, KB Kookmin Card, and KB Life Insurance. Participants discussed topics such as consumer-oriented product and service management, strengthening the expertise of consumer protection organizations, and refining the consumer protection quality index at KB Kookmin Bank.
Particularly, they examined the entire process from the occurrence of customer complaints to their resolution, assessing the design and operation of processes that customers experience, such as product enrollment and cancellation. They agreed to enhance systems that proactively identify potential consumer inconveniences or damages throughout the entire product and service lifecycle, rather than just responding to individual complaints after the fact.
They also shared strategies for improving the expertise and continuity of consumer protection personnel. Plans include assigning staff with field experience in product development, sales, and legal affairs to consumer protection departments and refining personnel management systems to allow for long-term engagement in related tasks to build expertise.
The council also discussed ways to improve the consumer protection quality index currently operated by KB Kookmin Bank. A special lecture was held for employees responsible for financial consumer protection, featuring Kim Mi-young, former head of the Financial Supervisory Service's Consumer Protection Division, who shared insights on recent consumer protection policies, supervisory directions, and the role of chief consumer protection officers in strengthening consumer protection systems.
A KB Financial representative stated, "Consumer protection in finance is not just about having systems and procedures in place; it is crucial that the consumer's perspective serves as a practical standard in all business processes. We will continue to implement consumer protection that customers can feel, based on personnel with field expertise and execution capabilities, along with a value system for consumer protection."
* This article has been translated by AI.
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