Shinhan Bank Sets Up O2O Promotion Team to Take on Food Delivery Brokerage Platform
Launches the Shinhan Love Umbrella Event for children's traffic safety on rainy days by donating transparent umbrellas
Shinhan Bank announced on April 29 that it signed a strategic partnership on the operation and win-win development of a delivery platform with Insung Data. Jin Ok-dong (left), president of Shinhan Bank and Hwang In-hyuk, CEO of Insung Data pose for a photo shoot at the O2O Platform Business Agreement Ceremony held at Shinhan Bank Headquarters in Seoul. (Photo: Shinhan Bank)
Shinhan Bank has launched the On-line to Off-line (O2O) Promotion Group to start getting the word out about the delivery brokerage platform business in earnest.
Shinhan Bank said on June 7 that it aims to introduce innovative businesses based on financial and non-financial data. It will do so by overcoming the limitations of existing bank applications, such as services being limited to bank customers and access to financial transactions only and directly running a platform.
Shinhan Bank focused on creating the O2O Promotion Team as a dynamic and powerful organization. This means the team¡¯s businesses go beyond banks¡¯ traditional businesses.
The meaning of O2O is connecting various on-line and off-line items in the field of e-commerce and marketing.
The newly established team has key functions needed to build a platform, and is able to make good use of the bank¡¯s current resources in product sourcing and risk management.
After establishing a platform, the team placed ICT personnel who can quickly respond to service expansion and platform improvements.
In addition, the O2O Promotion Team is aiming to grow into a company in the bank (CIB), completely separate in terms of future workforces, budgets, systems and infrastructure.
The team plans to focus on setting up a food delivery brokerage platform as an innovative financial service.
Shinhan Bank¡¯s win-win food delivery brokerage platform for small business owners was recently designated an innovative financial service, in a regular meeting of the Financial Services Commission in 2020.
In order to offer simple and cheap financial services to small business owners and consumers who registered themselves in the bank¡¯s app, the bank stepped up its efforts to build the platform with the goal of launching the food delivery brokerage service in July 2021.
¡°We expect that the service will create more benefits for small business owners such as cheaper platform fees, shorter settlement periods and loans for them,¡± a Financial Services Commission official said when giving approval for the service.
¡°Consumers will be able to use various payment methods and rewards. Shinhan Bank will be able to upgrade its sales data-based credit rating models and launch new financial products based on sales data.¡±
Shinhan Bank is also expected to focus on building future businesses, such as establishing a food order brokerage platform via the establishment of the O2O Promotion Team.
¡°The O2O Promotion Team has been established to develop innovative business by connecting the on-line and off-line and finance and non-financial sectors,¡± a Shinhan Bank official said. ¡°We ask you to look forward to enjoying the differentiated digital platform that will be created by the bank.¡±
In the meantime, Shinhan Bank announced on June 8 that it will hold the ¡°Shinhan Love Umbrella Event¡± for children's traffic safety during the rainy season, which is expected to continue until the end of June.
The Shinhan Love Umbrella Event will donate transparent umbrellas to daycare centers and elementary schools across the country.
Shinhan Bank plans to focus on the safety of children during the rainy season by producing and donating transparent umbrellas tailored to the location of children¡¯s eyes.
Shinhan Bank recently launched a new advertisement with popular actor Cho Seung-woo, saying, "Shinhan Bank pay attention to the happiness of customers just like paying attention to the safety of precious persons," drawing keen attention with more than 1.7 million views on the ad video on YouTube in a week.
Those who want to participate in the event have to upload pictures of themselves wearing umbrellas with the hashtag of Shinhan Love Umbrella to their Instagram, click ¡°Like,¡± along with commenting about the event on Shinhan Bank's Instagram page.
Shinhan Bank will present 300,000-won gift certificates to 10 people who shared heartwarming stories, and give ice coffee gift certificates to 500 people every week after selecting them in a draw in the event.