LG CNS has signed a contract worth several billion won with NH NongHyup Bank to develop a next-generation system, known as Project NEO. This project represents the largest single contract in the financial sector’s next-generation business. The exact amount has not been disclosed, as it is subject to negotiation between the two companies. The project duration is from January 2026 to April 2028, spanning 27 months.
In this project, LG CNS will completely rebuild NH NongHyup Bank’s core IT system, which handles account processing, financial transactions, and financial products, with a digital focus.
The first step is to separate NH NongHyup Bank’s financial transaction system into units that can operate independently, thus enabling a quick response to customers’ shifting requirements, particularly towards digital services like mobile and internet banking. For this purpose, a core banking system exclusively for non-face-to-face interactions will also be established.
The project will incorporate proven proprietary solutions, such as LG CNS’s AI security solution “SecuXper AI” and the system verification solution “PerfecTwin,” to enhance the safety and completeness of NH NongHyup Bank’s next-generation system.
LG CNS’s successful acquisition of this project can be attributed to the expertise and technical skills gained from previously handling NH NongHyup Bank projects, as well as their comprehensive competitive edge in areas such as AI, cloud-based AX businesses, and their capability in global banking projects.
LG CNS is strengthening its competitiveness in the financial AX business, engaging actively in projects with financial institutions such as NH NongHyup Bank, Shinhan Bank, Shinhan Card, Mirae Asset Life Insurance, Mirae Asset Securities, KB Financial Group, and Woori Bank.
The company is also actively pursuing its global banking business. It is working on the next-generation card system for Bank Sinarmas in Indonesia and a banking modernization project for a global bank in Singapore.