Shinhan Bank Selected as 'Global Best Trade Finance Innovation Bank' by Global Finance Magazine

Shinhan Bank has been selected as the 'Global Best Trade Finance Innovation Bank' by Global Finance magazine. On the 15th, at the awards ceremony held in Frankfurt, Germany, Seokho Son, Head of Shinhan Bank Europe (left), took a commemorative photo with Joseph Hirafuto, Publisher and CEO of Global Finance magazine. Photo by Shinhan Bank

[Asia Economy Reporter Kim Min-young] Shinhan Bank announced on the 16th that it was selected as the Global Best Trade Finance Innovation Bank at the ‘2020 Best Trade Finance & Supply Chain Finance Awards’ hosted by the global financial magazine Global Finance on the 15th (local time).

Global Finance, the award organizer, is a financial media outlet subscribed to by more than 50,000 CEOs and financial experts from 186 countries worldwide, and annually selects and announces outstanding banks in various fields. The banks selected as the Global Best Trade Finance & Supply Chain Finance Banks at this awards ceremony are leading global advanced banks from North America and Europe that have excelled in the field, with Shinhan Bank being the only domestic bank to be named.

Shinhan Bank received high praise for its efforts to integrate new technologies such as blockchain and artificial intelligence (AI) into the trade finance sector by actively participating in digital new businesses related to domestic and international trade finance, along with launching various new products to support export-import companies.

Shinhan Bank was previously selected as the ‘Best Innovative Bank in Foreign Exchange in Korea’ in 2016, and as the ‘Global Best Innovative Bank in Foreign Exchange’ for two consecutive years in 2018 and last year.

A Shinhan Bank official said, “We were selected as the best innovative bank in the trade finance sector through competition with banks from 97 countries worldwide, including global advanced banks,” adding, “We will continue to meet customer expectations by providing innovative and differentiated solutions to export-import companies and maintain our status as a leading bank in the trade finance sector.”