Chairman Son Byunghwan Orders "A Digital Platform That Integrates Finance into Customers' Daily Lives"

Son Byunghwan, Chairman of NongHyup Financial Group, is presiding over the 2021 1st 'NongHyup Financial DT Promotion Supreme Council' meeting held on the 9th at the NH NongHyup Financial Group headquarters video conference room in Jung-gu, Seoul.

Summary of the Three Keywords: 'Customer, Integration, Openness'

[Asia Economy Reporter Seong Giho] NongHyup Financial Group announced on the 14th that on the 9th, Chairman Son Byunghwan presided over the 'NongHyup Financial Digital Transformation (DT) Promotion Supreme Council,' which included all digital chief officers from its affiliates. The meeting focused intensively on discussing the digital tasks to be pursued this year.

Chairman Son stated during the meeting that financial institutions will inevitably face fierce competition with big tech companies and said, "Only platforms that can integrate financial services into customers' daily lives will be chosen by customers."

He emphasized, "There are often cases where services that customers do not actually need are pushed forward just to satisfy ourselves or because they are new technologies. We must thoroughly view and judge all businesses from the customer's perspective."

NongHyup Financial Integrated Platform Ecosystem

He announced plans to reexamine the mobile applications (apps) created from the perspective of financial companies for each affiliate and to build an integrated platform encompassing all NongHyup Financial Group affiliates.

Chairman Son also stated that they will expand business partnerships and strengthen cooperation not only with internal organizations such as NongHyup's distribution business but also with external big tech and fintech companies.

Additionally, the DT performance indicators will be revamped. The indicators will focus on directly showing the DT promotion results of affiliates and aim to enhance the market competitiveness of the affiliates by comparing them with market-leading companies.

Chairman Son said, "The goal of NongHyup Financial's digital business is to realize an 'All Digital' experience that customers can feel," adding, "We will promote '2× Speedup' management to double the speed of DT promotion, customer convenience, and business performance."

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