Improving Social Value of the Financial Services Industry
There is a growing demand for social responsibility of the financial services industry with regard to redistribution of wealth as polarization has emerged as a global issue. Based on this background, providing products and services for financially disadvantaged groups who have difficulties in accessing financial services has become an opportunity for financial institutions to improve their brand values and secure potential customers.
Shinhan Financial Group is fulfilling the social responsibility of a financial company through services embracing all members of the society.
Shinhan Financial Group provides corporate financing to SMEs and startups with an opportunity for growth and creates an ecosystem of mutual prosperity. We are also dealing with the financial hardships of the working class through products and services tailored to their demands.
Improving the Convenience of Financial Transactions
Demands for the service improvement for more convenient financial transactions are increasing as the share of financially disadvantaged groups is growing along with prevalent trends of the aging population in the social structure.
Shinhan Financial Group is aligning its products and systems so that all customers including the elderly and the disabled as well as foreigners can use convenient and useful services.
Sharing New Hopes by Writing a Letter
It is true that accessing financial services has become easier. However, it is still difficult for people with low credit scores or low income to receive loans. Based on this background, the New Hope Spore Loan, a finance product for the working class is providing a small help but big hope to customers who are under difficult circumstances.
A customer handed over a small note to Lee Kwang-pyo, an employee of Shinhan Bank working at the Seongsu-dong branch. The customer was a hearing-impaired person and his message read as follows, “Please, write down what you say, I have a hearing loss.”
His name was Choi Jun-suh and he needed emergency loans to live on but was rejected several times due to disadvantages of low income and hearing impairment.
He joined the company only 2 months ago and his bank account balance was not enough to meet the loan requirements.
However, Shinhan Bank provided the New Hope Spore Loan to him in recognition of his diligent efforts demonstrated in previousworkplaces, despite many unfavorable conditions.
Likewise, Shinhan Financial Group intends to deliver a voice of hope to more customers through New Hope Spore Loans.Shinhan will be your financial partner who truly supports your future in order to build a hopeful society where everyone lives a happy life.