Wizpresso recently had the privilege of showcasing its latest Governance, Risk, and Compliance (GRC) innovations to Mr. Cho Yong-byoung, Chairman and CEO of the Korea Federation of Banks, during a delegation visit organized by Cyberport. The session highlighted how AI agents can help financial institutions track evolving regulatory frameworks, translate them into actionable obligations, and continuously monitor compliance across internal documentation, policies, procedures, and evidence.
The discussion with Chairman Cho and the Korea Federation of Banks highlighted the shared priorities of Hong Kong and Korea in strengthening internal controls, enhancing operational resilience, and leveraging AI to make compliance more transparent and efficient. Wizpresso looks forward to continuing dialogue with Korean financial institutions and industry bodies to explore how AI agents and GRC automation can support the next phase of digital transformation in banking.
The Wizpresso showcase formed part of a Cyberport-led program demonstrating how Hong Kong’s technology ecosystem supports global financial markets through applied AI, RegTech, and digital infrastructure. Cyberport, as Hong Kong’s flagship digital technology hub, plays a pivotal role in connecting startups, regulators, and financial institutions to co-create the next generation of trusted financial services. For this engagement, Cyberport invited Wizpresso to represent Hong Kong’s RegTech capabilities, underscoring the city’s positioning as a regional leader in financial innovation.
AI agents for operational compliance
At the session, Wizpresso demonstrated how its Diligence platform deploys specialized AI agents to transform complex regulatory frameworks into operational, audit-ready controls for financial institutions. These agents help compliance, risk, and internal audit teams manage three critical challenges:
- Tracking and interpreting regulatory change
- Converting high-level rules into actionable, testable requirements
- Continuously monitoring policies, procedures, and evidence for gaps and non-compliance
From regulation to actionable requirements
Diligence centralizes regulatory frameworks, supervisory guidelines, and industry standards into a single control center, allowing institutions to map each requirement to internal policies, procedures, and controls. AI agents automatically parse regulations, extract obligations, and group them by theme (for example, information security, operational resilience, consumer protection) so that teams can rapidly identify affected business units and processes.
For operational compliance, this means banks can:
- Maintain a living register of requirements linked directly to enterprise policies and procedures
- Run AI-powered gap analysis between regulations and internal documents to detect missing or outdated controls
- Benchmark internal standards against industry codes and best practices to ensure consistency across entities and jurisdictions
In practice, a bank’s operational risk team can upload new circulars or guidelines, instruct the AI agent to identify new or changed requirements, and instantly see which policies or playbooks must be updated and which controls need retesting.
Monitoring compliance against policies, procedures, and evidence
Beyond mapping requirements, Diligence provides a configurable workspace for ongoing control monitoring, evidence management, and audit preparation. AI agents can:
- Compare uploaded policies, SOPs, and control descriptions against regulatory obligations and internal standards
- Flag control weaknesses, overlaps, or inconsistencies across business units
- Orchestrate evidence collection workflows by sending reminders, consolidating documents, and tagging each piece of evidence to specific requirements or controls
This enables:
- Continuous compliance monitoring rather than point-in-time reviews
- Faster, evidence-backed responses to internal and external audits
- A clear line of sight from regulation to control to evidence, which is essential for operational resilience and supervisory confidence
For example, a leading global bank in Hong Kong used Diligence to centralize tracking of over 100 information security frameworks and automatically map them to more than 10,000 internal policies and procedures, achieving significantly faster audit responses and substantial cost savings through AI-driven daily gap monitoring. A regulatory authority similarly leveraged Diligence to continuously monitor critical infrastructure providers’ policies against the latest information security codes of practice, detecting non-compliance in near real time and streamlining supervisory engagements.
Positioned as an AI-powered supervisory and GRC platform, Diligence unifies policy governance, regulatory reporting, and audit workflows into a single system of record. Financial institutions can:
- Centralize policies, standards, and guidelines across global entities
- Monitor ESG, cybersecurity, and operational risk requirements using AI analytics
- Generate audit-ready, evidence-backed reports and dashboards for management and regulators
By replacing fragmented spreadsheets and manual document checks with intelligent, agent-driven workflows, Wizpresso Diligence helps banks and regulators reduce compliance risk, lower operational cost, and free up expert time for strategic oversight.
About the Korea Federation of Banks
The Korea Federation of Banks (KFB) is the national banking association representing Korea’s banking sector and serving as a key bridge between financial institutions, regulators, and the public. Established in 1928 as the Kyongsong Bankers’ Club and later reorganized as the Korea Federation of Banks in 1984, it has grown into the central voice for 23 member banks, including nationwide commercial and regional lenders. The KFB works closely with its members to strengthen public trust in the banking system and to support banks’ role as a core driver of the national economy.
Mr. Cho Yong-byoung, formerly Chairman and CEO of Shinhan Financial Group, now leads the KFB and is focused on driving stronger internal controls, inclusive finance, and mutual growth across the Korean banking sector. His leadership emphasizes both banking innovation and the fulfillment of the industry’s broader social responsibilities amid rising expectations from regulators and the public.