After Japan, Mongolia... Shinhan Bank Transfers Digital Finance Know-how to Mongol Bank

Signed Business Agreement with Khan Bank

Shinhan Bank announced on the 8th that it has signed a strategic business agreement with Khan Bank, Mongolia's largest commercial bank, to promote digital finance.

Established in 1991, Khan Bank operates over 540 branches across Mongolia and is the largest commercial bank in the country, serving about 80% of the total population. Recently, Khan Bank set "digital innovation," which drives the bank's transformation based on digital technology, as its strategic goal and selected Shinhan Bank as a benchmarking target.

Last year, key executives and the board of directors visited Shinhan Bank twice to experience various digital innovation cases, including the future-oriented branch model "Digilog Branch." In April, Khan Bank established a self-service-based digital specialized branch called "Digi-Go," benchmarking Shinhan Bank, in Mongolia.

At the recent agreement ceremony, Khan Bank requested Shinhan Bank to share know-how on digital finance overall, including ▲digital strategy ▲innovative services ▲ICT systems.

Through this business agreement, both parties agreed to actively collaborate in various areas such as ▲sharing customer-centric digital innovation services and strategies ▲supporting organic customer experience design between online and offline channels ▲providing consulting for building innovative digital infrastructure linked with financial systems.

A Shinhan Bank official said, "This business agreement with Mongolia's Khan Bank is significant as Shinhan Bank's differentiated digital financial services have been recognized not only domestically but also overseas," adding, "We will continue digital innovation and promote cooperation with various overseas partners."

Meanwhile, last year, Shinhan Bank cooperated with Tokyo Kiraboshi Financial Group by providing digital transformation consulting along with digital technologies such as non-face-to-face service models and mobile banking apps to help establish Kiraboshi Financial Group's mobile specialized bank.

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