President Wi Sung-ho of Shinhan Bank. (Photos: Shinhan Bank)

Shinhan Bank won the 2018 Fintech Grand Award in the Service Sector for providing tailor-made financial services by combining six apps, including Shinhan S Bank and Sunny Bank under its Shinhan Bank SOL platform, which already attracted 6.5 million members as of Aug. 31 since its launch in February.

The bank is said to have redefined digital financing from a customers’ view point with the Shinhan SOL platform easily accessible to the customers all the time.

Shinhan Bank has been able to add the financial services that the customers had never experienced from other banks’ mobile apps in its Shinhan SOL platform. They include the SOL Mate, a “chatbot” providing robot consultations, for customers to take care of banking businesses; the AR and VR based financial service guide; and the Mobile Banking and Hidden Gesture allowing the customers conduct banking services with the hand-phones moves.

The bank also has strengthened its O2O service, and on- and off-line banking service to provide segregated banking from the professional Internet banking service.

The customers can get customer service numbers, Mobile Numbers, the Fill in Banking Service and the Digital Document Case for receipts for financial transactions, all from the Shinhan SOL before visiting a bank. 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, Oct. 9.

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," 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 nation'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. "The 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.

An ad. for Shinhan Bank’s SOL, an all-in one banking app. for opening an installment savings account at Shinhan Bank online.