Hana Bank announces on Sept. 3 that it will build a digital innovation life platform that combines finance and distribution by signing a business agreement with BGF Retail. Park Sung-ho (left), president of Hana Bank, poses for a photo shoot with Lee Keon-jun, CEO of BGF Retail. (Photos: Hana Bank)

Hana Bank announced on Sept. 3 that it will sign an agreement with BGF Retail to jointly promote future innovation channels and new digital businesses, and build a digital innovation-powered life platform combining finance and distribution.

Through this business agreement, Hana Bank and BGF Retail will promote their comprehensive business partnership in various fields, such as online and offline channel convergence and digital innovation stores, the joint development of specialized products and services through customer data convergence, and customized joint events for the MZ generation.

The major commercial bank and the convenience store giant will jointly set up a digital innovation store that can handle Hana Bank's financial services at CU Convenience Stores, an offline channel of BGF Retail.

The digital innovation store will have smart teller machines (STM) that allows direct consultation with bank employees. It will be built as a specialized space that provides convenient general financial services for the everyday lives of customers.

The digital innovation store No. 1 will open in Songpa-gu, Seoul. The first store will have great location because there are no general banks and automated devices within a radius of 500 meters from the location.

It will significantly improve the convenience of customers in need of financial services in the area.
Hana Bank’s self-zone for financial services will be set up separately within the store.

An STM will make it easy to use ATM services as well as services that can be offered only by branches, such as opening an account, making and receiving bankbooks and OTP security cards. Moreover, the store will have both companies’ brand identities (BIs) and corporate identities (CIs) on its interior and exterior.

It will be created as a new space where both companies’ services and contents are combined. Its signboard will have both companies’ brands.

In addition, various offline partnerships such as CU convenience stores in Hana Bank branches and Hana Bank branches in CU convenience stores will also be comprehensively considered in order to contribute to boosting financial accessibility.

They are also planning to introduce new products and services that combine Hana Bank and BGF Retail’s online platform.

First of all, many visits to CU convenience stores will lower the bank’s interest rates and installment savings products will offer CU coupons.

They will consider developing and selling various subscription products that combine popular products sold at convenience stores with financial products in connection with CU Convenience Store’s subscription services.

On top of that, they will strengthen comprehensive collaborations through big data alliance and various events and product development for the MZ generation.

In the meantime, Hana Bank announced on Sept. 1 that it will expand the “My Asset Research Center” Service, which provides customer-centered asset management and expenditure analysis services through Hana Bank’s mobile banking app Hana OneQ.

Hana Bank expands the “My Asset Research Center” Service, which provides customer-centered asset management and expenditure analysis services through Hana Bank’s mobile banking app Hana OneQ on Sept. 1.

The “My Asset Research Center” Service expands its services from asset management to expenditure management. The Monthly Hana Fund Management Report provides personalized information on deposit and withdrawal analysis among others.

In addition, it provides convenient asset management information to customers who connect financial assets. The information includes returns on funds and stocks, loan management, credit card payments, insurance policies and pensions and real estate prices.

The Hana Fund Management Report is powered by an AI algorithm developed by Al Lab, an internal big data-specialized unit.

The report provides information on external and unstructured data such as open banking and consumption data as well as customers' Hana Bank transactions to increase its accuracy and service levels.

Hana Bank will hold events such as subscribing to the service and providing Starbucks coupons to customers who subscribed the services and registered in more than one financial institution in line with the expansion of the “My Asset Research Center” Service.