Shinhan Card Receives 'Prime Minister's Commendation' in Innovation Finance Category at '2020 Finance Day'

Selected for 7 Innovative Financial Services by FSC and Recognized for Financial Innovation Achievements

[Asia Economy Reporter Ki Ha-young] Shinhan Card announced on the 28th that it received the Prime Minister's Award in the Innovative Finance category at the 2020 '5th Financial Day Commemoration Ceremony.'

Shinhan Card was recognized for its contributions to the development of the financial industry and promotion of competition, including the selection of seven innovative financial services by the Financial Services Commission, operation of an in-house venture-linked startup support program, and creation of an innovation growth ecosystem through strategic equity investments in outstanding startups, earning the Prime Minister's Award in the Innovative Finance category.

In line with the government's financial innovation policies, Shinhan Card had seven services designated as innovative financial services by the Financial Services Commission: 'credit card-based remittance service,' 'credit evaluation (CB) for individual business owners,' 'small investment services and personal expenditure management (PEM),' 'facial recognition payment,' 'monthly rent credit card payment,' 'rental brokerage platform,' and 'remittance service for foreigners.'

Additionally, as part of Shinhan Financial Group's strategy to build an innovation growth ecosystem, the in-house venture and startup support program 'I'm Ventures' developed collaboration models with a total of 12 companies. Furthermore, Shinhan Card has made direct investments of approximately 5.5 billion KRW in 13 startups expected to create synergy with Shinhan Card, and indirect investments of 1.9 billion KRW in a new technology investment fund established by Shinhan Financial Group for investing in new technology startups, continuously expanding the scale of investments for co-growth with startups.

Moreover, Shinhan Card is conducting various innovative activities that combine new technologies and finance, such as AI chatbots, voice recognition-based conversational ARS customer consultation, 100% digital card membership, iPhone touch payment, and big data-based personal consumption expenditure management.

A Shinhan Card official stated, "We will continue to expand various financial innovation activities to contribute to Shinhan Card customers and society in the future."

Meanwhile, the Financial Day Commemoration Ceremony is an event where financial consumers, financial institutions, and financial authorities gather to raise public interest in finance and encourage those working in the financial sector. Awards are given to individuals or organizations that have contributed to financial development in three categories: innovative finance, savings and investment, and inclusive finance.

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