First Among Commercial Banks... Shinhan Bank Launches Savings and Loan Comparison Service
Available on Shinhan SOL App
Shinhan Bank announced on the 21st that it has launched the "Financial Product Comparison Service," the first among commercial banks to provide services ranging from comparison and recommendation to subscription and post-management for deposit, savings, and loan products from multiple financial companies.
This service is available through Shinhan Bank's mobile banking application SOL's Moneyverse menu. Shinhan Bank updates the financial product database (DB) daily, covering deposit and savings products from 51 financial companies and loan products from 48 financial companies, enabling users to compare a wide range of financial company product information.
In particular, Shinhan Bank utilizes MyData to analyze customers' financial transaction patterns and offers an interest rate simulation service that reflects preferential interest rates, allowing customers to immediately apply for them.
Shinhan Bank expects this service to have a significant impact on the financial sector as the first comprehensive financial platform that not only allows viewing transactions across all financial institutions through MyData but also enables one-stop solutions for comparing, subscribing to, and managing deposit, savings, and loan products.
Additionally, Shinhan Bank has lowered loan brokerage fees, enabling partner financial companies to offer loan products at more affordable interest rates, thereby providing greater benefits to customers.
Starting with its own products and deposit and savings products from Shinhan Savings Bank, Shinhan Bank plans to add more than 10 partner financial companies after July and continuously expand participation from financial companies in the future.
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A Shinhan Bank representative stated, “We will strive to provide beneficial and better products to customers together with many financial companies,” adding, “We will enhance competitiveness by advancing customer recommendation algorithms and detailed management to become an essential service for customers' asset formation.”
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