Shinhan Bank Preliminarily Designated as Data Specialized Institution...The Only One in the Banking Sector

[Asia Economy Reporter Yu Je-hoon] Shinhan Bank announced on the 9th that it was the only bank to receive a 'preliminary designation as a data specialized institution' from the Financial Services Commission on the 7th.

Shinhan Bank has established internal processes and facilities for safe data utilization and has continuously pursued partnership projects with public and non-financial institutions to accumulate data integration capabilities.

In this preliminary designation, Shinhan Bank was the only bank to meet the Financial Services Commission and Financial Supervisory Service's principles for designating data specialized institutions (reliability, expertise, openness) and detailed evaluation criteria, enabling it to receive the preliminary designation.

A Shinhan Bank official said, "With this preliminary designation as a data specialized institution, we will revitalize the banking data industry and create new financial services through the integration of banking data and heterogeneous data," adding, "Shinhan Bank will continue efforts to transform into a customer-centered digital company."

Meanwhile, last month, Shinhan Bank became the first commercial bank to be designated for innovative financial services for online deposit product brokerage, and is the only financial institution to build a database (DB) of product information from all financial institutions, providing services that recommend customized products through MyData analysis.

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