Shinhan Financial Group said Monday that it has decided to adopt a new digital leadership system, assigning tasks of fostering different innovative technologies to the executive officers of its subsidiaries.

The decision is based on Shinhan Financial Group Chairman Cho Yong-byoung’s remarks during a management meeting held Wednesday, where he said “in order to achieve a successful digital transformation, harmony of strategy and culture and the digital leadership of CEOs are crucial.”

The system’s goal is to achieve digital progress and development through both competition and cooperation among Shinhan’s different businesses.

Under the new system, Shinhan Bank CEO Jin Ok-dong and Shinhan Card CEO Lim Young-jin will oversee artificial intelligence and big data respectively. Heads of brokerage unit Shinhan Investment and insurance unit Orange Life will focus on cloud computing and block chain technology respectively as well.

Other CEOs will also each be handed different technologies to focus on in a similar manner, the group added.

By Jung Min-kyung (mkjung@heraldcorp.com)