Shinhan Bank Launches Mobile App 'Shinhan SOL India' in India

[Asia Economy Reporter Haeyoung Kwon] Shinhan Bank launched its new digital banking platform for the India headquarters, 'Shinhan SOL India,' on the 21st.

Shinhan SOL India was developed as a localized, customized financial application to provide the best service experience to local customers, considering India's rich diversity, potential, dynamism, culture, and mobile environment.

It is the first Korean bank in India to enable the use of mobile OTP within its financial app. The mobile banking service replaces the existing security card and introduces a real-time remittance system that allows instant fund transfers.

Additionally, for user convenience, it offers features such as post-transfer notifications, easy transfers to favorite accounts, and transaction statement saving and sharing. It also supports payment of over 140 local utility bills in India, including mobile phone, internet, and electricity bills.

A Shinhan Bank India headquarters official stated, "With the increasing preference for untact (contactless) services due to COVID-19, we will strive to provide the best financial services to customers through the launch of Shinhan SOL India." He added, "In the future, we will offer convenient and fast digital financial solutions by providing mobile-based non-face-to-face financial product services through a non-face-to-face real-name verification (E-KYC) system linked with the real-name biometric information system promoted by the Indian government."