Shinhan Bank's 'New Sol' Surpasses 7 Million Switching Customers in 28 Days After Launch

S Bank→Faster Switching Speed to Sol App

[Asia Economy Reporter Yu Je-hoon] Shinhan Bank announced on the 23rd that the number of users of 'My Financial Story, My Platform New SOL' has surpassed 7 million.

According to Shinhan Bank, the number of users of the New SOL application exceeded 7.3 million as of the previous day. Since its launch on the 20th of last month, more than 88% of Shinhan SOL app users have switched to the New SOL app within 28 days. Additionally, the number of new SOL users who had not accessed the app in the past year increased by more than 200,000.

Shinhan Bank stated, "Considering that the user conversion rate from the existing S Bank to SOL was 64% within one month after the SOL app was launched in 2018, the speed of user growth for New SOL, which exceeded 7 million users and achieved a conversion rate close to 90% in less than a month, is very fast."

Shinhan Bank believes that the app’s speed, which is up to four times faster than the existing SOL, along with new features such as the personalized home screen, New Transfer, and Story Bank, have contributed to this rapid conversion rate. The number of users who have customized their home screen with the 'My Own Home Screen' feature reached 1.4 million, and more than 400,000 users have utilized the 'New Transfer' feature, which allows transfers to friends or groups registered by name instead of account numbers. The company explained that over 2 million customers are using the new features of New SOL.

In addition, Story Bank, based on the concept of 'Adding Stories to Finance,' has been found to be a highly favored service among customers as it allows users to record their personal daily lives with photos and stories, moving beyond the previous limitation of entering only seven characters in transaction details.

A Shinhan Bank official said, "Interest in the faster speed and diverse functions of the renewed SOL is rapidly increasing the number of New SOL users," adding, "We plan to continue listening to customer feedback after the launch of New SOL and promptly reflect it to complete the app as a customer-centered financial platform."

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