Shinhan Bank CEO Wi Sung-Ho shared his vision on how to transform a lender into a digital-based entity during the Facebook Marketing Summit Seoul 2018 at the InterContinental Grand Seoul Parnas Hotel on Sep 10th 2018.
Hosted and organized by Facebook, one of the world's most widely used social media, the summit is an annual event held across the world. Over 1,500 officials from the nation's 200 major firms joined this year's event.
During his keynote speech, Wi discussed key challenges for commercial banks facing the Fourth Industrial Revolution and how to overcome them through innovation while jumping into new businesses.
"Shinhan Bank's goal is to become a financial concierge who is fully capable of providing a customized solution to satisfy various customers' needs," Mr Wi said.
Under the bank's motto of "Digital Transformation" and "Redefine, Be The NEXT," Shinhan has continued its efforts to strengthen its digital sector.
The Shinhan SOL, the lender's all-in-one banking app, was highlighted during the event for easy access to various banking services and conveniences in opening an installment savings account.
The app was named as one of the most successful Facebook digital marketing cases via social media for the first time among banking apps serviced by the Korean's financial firms.
During the showcase for the app, the Shinhan SOL demonstrated it only took less than three minutes from downloading the app to opening an installment savings account.
"Th motto for this year's event was 'Zero Friction Future.' The Shinhan SOL app fully satisfies the motto where customers experience no inconvenience," said a Shinhan Bank official.