Shinhan Bank's Delivery App... Connect with Matstar and Save What You Crave

Launched Industry's First Delivery App on 22nd
Beta Service Starts in 6 Regions
Delivery App 'Matstar' Like SNS
'Babgorithm' Enables Preference Analysis

Screen of 'Ttaenggyeoyo,' a delivery application launched by Shinhan Bank. One of the main features, 'Matstar,' allows users to freely browse and follow orders of food that others have ordered and reviewed, similar to SNS. Photo by Ttaenggyeoyo

I browsed food review posts from neighboring residents like on social networking services (SNS) and pondered what to have for dinner today. Then, one of the local residents I was following posted that “the ingredients for Galbijjim were plentiful and neatly packaged.” Using the ‘Save if Craving’ feature, I immediately added the food to my cart. After placing the order along with a small can of cola, the delivery arrived in about 40 minutes. After eating the Galbijjim and writing a review, a local resident saw the post about two hours later and ordered the same food, earning a small amount of points. This is not a story about a startup dreaming of entering the delivery market. It is the delivery app ‘Ttaenggyeoyo’ launched by Shinhan Bank, one of the major banks in Korea.

Shinhan Bank’s food order brokerage platform business, Ttaenggyeoyo, which started service on the 22nd of this month as the first in the industry, received great attention from consumers from day one. It began as a beta service in six areas including Gwangjin-gu, Gwanak-gu, Mapo-gu, Gangnam-gu, Seocho-gu, and Songpa-gu in Seoul. The full service is planned to start on January 14 next year.

The feature that attracted users’ attention on the app’s launch day was ‘Matstar.’ ‘Matstar’ refers to food photos and review posts typically uploaded on Instagram, one of the SNS platforms. Shinhan Bank implemented Matstar within the Ttaenggyeoyo app itself so users can use it like an SNS. In some areas, Matstar posts began appearing within an hour of the beta service launch.

When people living in similar areas order food and post reviews, these can be viewed like posts on the Matstar page. If there are accounts with similar food preferences or those that frequently post reviews, users can ‘like’ or follow them. Matstar posts from the neighborhood can be checked in order of likes or filtered to view only photos and videos separately. When you find food you like, you can order it using the ‘Save if Craving’ feature.

Shinhan Bank: "Mutual Benefits Over Profit Generation"

Users themselves can also run Matstar accounts by posting review articles evaluating the food they ordered and ate. It is possible to gain more likes and followers by obtaining more detailed and thorough reviews. When a ‘Matstar Order’ occurs?meaning a user leaves a review or others order food following their post?they can receive a 1% reward of the order amount.

The so-called ‘Bapgorithm (Bap + Algorithm)’ feature was also introduced. It is a kind of curation service where the algorithm identifies the user’s favorite menu and helps them order food that suits their taste. It operates by analyzing and optimizing order data for each user.

However, some improvements were noted, such as long loading times and screen transitions during certain time periods. Some users posted on the community that the app interface was inconvenient.

Shinhan Bank explained that Ttaenggyeoyo is designed not as a profit-making tool but to provide mutual benefits to platform participants. A Shinhan Bank official stated, “We aim to be a win-win delivery app that offers benefits to all platform participants, including customers as users, small business merchants as franchisees, and delivery riders.”

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