Banks Accelerate Digital Transformation

[Asia Economy Reporter Song Hwajeong] As the digital transformation of finance accelerates, banks are also stepping up their efforts.

NongHyup Financial Group held the '2022 1st NongHyup Financial DT Promotion Chief Council' on the 17th at its headquarters in Jung-gu, Seoul, with chief digital officers from all affiliates participating. NongHyup Financial Group identified 'customer-centric, lifestyle finance, open ecosystem' as the digital innovation keywords for this year and set a goal to leap forward as a top-tier digital financial company that customers can truly feel.

In particular, the bank prioritized the DT task of 'improving non-face-to-face processes to resolve customer pain points.' This is aimed at preparing for the next 10 years of non-face-to-face channels, focusing on meticulously identifying inconveniences from the customer's perspective?from product search and subscription to post-management?and comprehensively improving the step-by-step processes.

Since May last year, NongHyup Financial Group has been pooling its company-wide digital capabilities to promote a project to fully upgrade its representative app, 'All One Bank,' into a customer-centric comprehensive financial platform, with the official service launch scheduled for June this year.

Earlier, NH NongHyup Bank deployed an artificial intelligence (AI) banker based on deep learning technology under the DT Strategy Department's Digital R&D Center. Besides supporting AI new business initiatives within the Digital R&D Center of the DT Strategy Department, the AI banker will also be deployed to assist visitors at the organization's experience center.

Shinhan Bank recently established the Digital SOHO Sales Department and WM Sales Department to expand non-face-to-face financial services for individual business owners and wealth management (WM) customers.

The Digital SOHO Sales Department targets individual business owner customers in the Seoul, Gyeonggi, and Incheon areas who hold regional credit guarantee foundation guaranteed loans and Shinhan Bank’s non-face-to-face SOHO loans (Solpyeonhan Business Loan, Shinhan Quick Settlement Loan, Ddaenggyeoyo Business Loan), preferring non-face-to-face channels. Shinhan Bank will provide differentiated customer management based on data and customized financial consulting services by dedicated staff, with plans to expand this nationwide in the future.

The Digital WM Sales Department will equip the Shinhan SOL application with ▲My Care ▲AI customized asset management ▲real-time talk consultation ▲expert consultation linkage services for high-net-worth customers who prefer non-face-to-face channels, providing asset management services through one-on-one dedicated staff matching.

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