Shinhan Card’s “Code 9,” which provides tailor-made financial design services for customers based on Big Data, has been getting customers’ attention lately and has outpaced rival credit cards in the market.
Issuances of Code 9’s five kinds of credit cards broke the 2 million-card mark in the 10 months since the card service was launched. Code 9 is a system that analyses Big Data on credit card customers and uses that to determine tailor-made credit card services for those customers. The system so far has produced five credit card services, “23.5,” with the initial new credit card service under the new system, “S-Line,” “Future Planning,” “Classy Y,” and “B. Big.”
The name “23.5” was taken from Earth’s Axis, which causes big changes in nature, and is aimed at youths with big desires and dreams, as there is no limit on service or deposits.
“S-Line” and “Future Planning” are generally for salary men in their 30s and 40s and the retired, while “Classic Y” is for youths who value individuality. “B-Big” is aimed at salary people who want a credit card to pay for transportation fares.
Shinhan Card held events in April, including giving cardholders who are couples a 10,000 won credit for Lotte World plus a 40 percent discount for their companions and 30 percent off for customers who visit Everland.
“All That Service (allthat.shinhancard.com)” a daily-life site for its customers, sold 99 “must have items” on special prices with “Lucky Box” provided to the 99 lucky buyers who were given iPads and brand name bags as gifts.
Officials of the credit card firm said the fact that they have been able to sell over 2 million credit cards under the Code 9 system in 10 months is owed to successful analyses of Big Data, and they will continue to make efforts to provide tailor-made services based on Big Data’s insight into its customers. For example, the “Sally” card has already issued based on the new system.
Shinhan Card is an authorized credit finance company that offers a variety of credit cards and installment finance services.
“With our acquisition of LG CARD in 2007, we instantly grew our customer base for a fresh spurt of growth and development that had helped us to quickly become the number one credit card issuer in Korea,” the company said. “And since then we have been leading the future of
the domestic credit card industry with the largest market share and service capacity.”
Shinhan Card is now the leading financial brand that is most recognized and widely used by customers in Korea.
Shinhan Card provides credit loans by which individuals, corporations, or public institutions pay for goods or services within certain credit limit through credit cards and cash advance by which we lend urgently needed cash to customers. Through more detailed segmentation of the customers in the future, the company will continuously develop more unique specialized products and successfully build various customer loyalty programs and at the same time, upgrade CRM system. Also, by improving credit management system, Shinhan Card will strengthen risk management through accurate credit assessments and consequent authorization of credit limits for customers.
The following sentence is written on all Shinhan Card electronic approval forms: "It is the customer who makes the final decision."
Shinhan Card says it can satisfy customers by sharing sincerity and “doing our best,” said President Wi Sung-ho.
“Whenever we put our heads together to make decisions, we do our best to benefit our customers after thinking twice from their viewpoint.”
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