Shinhan Financial Group is committed to being the most reliable financial partner for customers based on its ‘Compassionate Finance, Your Companion for the Future’ mission. We do the utmost to improve our products and services from the customers’ perspective so that they can experience ‘compassionate finance’ and create a virtuous cycle of shared prosperity for both customers and the company.
Digital-based Innovation of the Customer Experience
Rapid changes based on digital technologies are taking place from the aspects of customer experience along with the emergence of new digital technologies such as mobile, AI, and blockchain. Fintech, a compound of “finance” and “technology”, is frequently used these days and Fintech companies are promptly engaging in the financial industry with innovative products and services that are unprecedented. Shinhan Financial Group is also exploring new and innovative opportunities utilizing digital technologies.
Shinhan Financial Group’s digital transformation aims to rapidly provide financial customers with more convenient and useful services. We are focusing on identifying the inconveniences and complaints of existing financial
services with the power of data and resolving issues through automation and process improvement. We will promote financial services that provide a new level of customer satisfaction by transforming customer experiences through such efforts.
Financial Economic Education for Customers
We provide our customers with financial economic education to help them become acquainted with finance and live a better life through financial services. In particular, we provide customized education tailored to participant groups including as children, youth, and seniors to enhance their understanding of finance.
Building a Digital Ecosystem, Future’s Lab
Shinhan Financial Group operates ‘Shinhan Future’s Lab’ to support startups and create a digital ecosystem. Shinhan Future’s Lab aims to establish a win-win business relationship in which startups and financial companies cooperate and grow together. It also provides startups with the support they need in their early stages including investment, ICT infrastructure, financial know-how, and beyond. In return, they create new values through digital services that customers need and share with Shinhan while focusing on developing innovative technologies and ideas. Launched in 2015, the Future’s Lab has cooperated with a total of 61 companies to date and developed joint business models in 21 areas.
Shinhan Financial Group has invested KRW 6.3 billion directly to provide practical support to startups. Recently, we have been expanding our cooperative network with fostering institutions in various industrial fields to provide startup companies with non-financial aid as well.
We launched ‘Shinhan Future’s Lab Vietnam’ in 2016, the first Fintech startup fostering program operating overseas among Korean companies. Shinhan Future’s Lab Vietnam provides mentoring programs offered by both Fintech specialists in Vietnam and global mentoring groups in Korea to support Vietnamese Fintech companies and assist domestic companies’ entry into the Vietnamese market.
The Shinhan Data System focuses on the commercialization of specified services and technologies in cooperation with Fintech venture companies from the Future’s Lab. Currently, blockchain platforms for enterprise customers, a machine learning based server, infrastructure failure predictions, automatic operation services have been developed and Shinhan Bank servers and service of infrastructure failure predictions are being tested.
Shinhan supports startup companies from the Future’s Lab and is making efforts to improve its technological competitiveness through developments in FinTech based on partnerships and substantial collaboration.