Shinhan Financial Group, which is led by Chairman Jin Ok-dong, announced on Oct. 12 that it held the finals and resulting award ceremony of the “2nd Shinhan Financial Group Big Data Hackathon,” a contest for college students to discover new products and services through financial data analysis at Centennial Memorial Hall of Sookmyung Women’s University in Yongsan-gu, Seoul.
A hackathon (a combination of hacking and marathon) is a competition to create applications, web services, or business models by intensively developing ideas over a period of time.
Organized by Shinhan Financial Group and the Big Data Innovation and Convergence College Project Unit, the competition was held from October 4 to 12, with a total of 47 colleges and universities and 451 students participating.
In particular, the scale of the event was expanded from the first competition so that this event drew many college students from across the country.
The participants were provided with financial data training and mentoring. Thus, they could focus on enhancing their data analysis capabilities and financial knowledge.
A total of 20 million won in prize money was awarded to 12 teams, including four that won top prizes. Shinhan Financial Group will develop selected outstanding ideas of college students into actual financial products and services.
“This contest is part of our win-win growth activities to enhance the data capabilities of the younger generation and promote creative ideas, which Shinhan Financial Group has been paying much attention to,” said an official of Shinhan Financial Group.
“Shinhan Financial Group will continue to expand opportunities for the MZ generation based on its industry-leading data capabilities.”
Meanwhile, Shinhan Financial Group together with the Big Data Innovation and Convergence College Project Unit, has continued various support programs to strengthen the data analysis capabilities of the younger generation, including the launch of the Shinhan Card-Sookmyung Women’s University Cooperative Curriculum in September.
Launch of Shinhan Hyper Connect Investment Fund No. 1
Shinhan Financial Group announced on Oct. 10 that it invested 6.5 billion won in data-based insurance sales startup Habit Factory by using the group’s digital strategic investment (SI) fund, Shinhan Hyper Connect Investment Fund No. 1.
Habit Factory is a promising startup in the insuretech sector that operates Signal Planner, an insurance comparison and recommendation application.
The startup is growing rapidly, aiming to improve customer-centered insurance sales and productivity by using AI to recommend customized products based on data.
Insuretech is a combination of insurance and technology. It refers to services that bring innovation to the existing insurance industry through information technology such as data analysis and artificial intelligence.
Through this investment, Shinhan Financial Group plans to collaborate with Habit Factory in various fields, including not only partnering with insurance sales agencies but also developing customized products by sharing their know-how and core competencies.
Plogging at Namsan Trail
Shinhan Financial Group announced on Oct. 22 that it conducted Namsan Mountain Trail Plogging Volunteer Service in Seoul, with the participation of Chairman Jin Ok-dong and the CEOs of group affiliates.
Prior to the event, Shinhan Financial Group Chairman Jin Ok-dong held a group management meeting to review the financial group’s ESG management performances since taking office and emphasize the financial group’s social roles and practices for sustainable growth.
In particular, Shinhan Financial Group informed its employees of the results of the “Save Energy Campaign,” in which the employees practiced energy conservation by turning off lights in rooms of buildings when no one was there, using public transportation, and refraining from using paper and disposable cups for six months starting from April.
Shinhan Financial Group will raise a total of 1.7 billion won — savings from the campaign plus the financial group’s contribution — to help marginalized people enjoy a warm winter.
“Shinhan Financial Group will continue to fulfill its roles as a corporate citizen with ESG practices involving all employees to ensure that people in need will be able to benefit from its projects,” said a representative of Shinhan Financial Group.
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