[SAFF 2020] "Digital Innovation in Finance for Customers' Everyday Happiness... Let's Embrace 'Design Thinking'"

Handonghwan, KB Kookmin Bank Deputy Head of Digital Finance Group and KB Financial Group Chief Digital Innovation Officer
Lecture on 'Challenges of Digital Finance'

The '2020 Seoul Asia Financial Forum (SAFF 2020)' hosted by Asia Economy was held on the 20th at the Western Chosun Hotel in Jung-gu, Seoul. Han Dong-hwan, CEO of KB Kookmin Bank's Digital Finance Group and Chief Digital Innovation Officer (CDIO) of KB Financial Group, is giving a lecture on digital financial innovation. This event, held under the theme "Post-COVID-19, Measures to Stabilize the Financial Market," aimed to deeply explore innovative strategies to overcome uncertainties in the era of the big blur in finance and capital markets. This year, to prevent the spread of COVID-19 and ensure the safety of speakers and participants, the event was conducted via online live streaming. Photo by Kim Hyun-min kimhyun81@

[Asia Economy Reporter Haeyoung Kwon] "Kakao Bank's 26-week installment savings, group accounts, and piggy banks are the results of design thinking from the customer's perspective. Digital innovation in financial companies should be carried out in a way that allows individuals to realize the meaning and value of life in their everyday spaces."

Han Donghwan, Vice President of the Digital Finance Group at KB Kookmin Bank, attended the '2020 Seoul Asia Financial Forum' held at the Westin Chosun Hotel in Sogong-dong, Seoul on the 20th, and stated, "A major innovation is needed to completely redesign the customer experience."

He emphasized, "Kakao Bank's hit products are not the result of introducing new technologies," and added, "Financial services should be integrated into daily life through a shift in perspective." He stressed the importance of 'design thinking,' which involves identifying desired points through empathy with others and solving problems by seeking creative alternatives.

He also mentioned KB Financial Group's used car trading platform 'KB Chachacha' and real estate platform 'KB Real Estate Live On' as efforts to integrate finance and daily life.

He pointed out that the non-face-to-face (untact) environment caused by the spread of the novel coronavirus infection (COVID-19) is accelerating digital transformation. The number of users of KB Kookmin Bank's non-face-to-face channels increased by 9.8%, from 19.79 million in the first quarter of last year to 21.74 million in the first quarter of this year. During the same period, the new sales amount of non-face-to-face products such as deposits, installment savings, and funds surged by 54.4%, from 4.1516 trillion won to 6.4103 trillion won.

He insisted, "The elements necessary to implement digital innovation are connectivity, convenience, and culture," and added, "Through design thinking and flexible, agile organizations, digital financial innovation must be achieved centered on the customer."

This content was produced with the assistance of AI translation services.