Shinhan Card Takes the Lead in Protecting Untact Financial Consumers with Financial Authorities

Shinhan Card Holds Online Meeting with Financial Services Commission, Financial Supervisory Service Joint Customer Panel

On the 29th, at the Shinhan Card headquarters in Euljiro, Seoul, participants including Jang Bong-hee, Director of the Financial Field Communication Division at the Financial Supervisory Service (fourth from the left in the front row), Park Won-hyung, Deputy Director of the Financial Field Communication Division at the Financial Supervisory Service (third from the left in the front row), Jin Mi-kyung, CCO of Shinhan Card (fifth from the left in the front row), and Song So-hee, Head of the Customer Protection Team at Shinhan Card (second from the left in the front row), took a commemorative photo during the Shinhan Card Customer Panel online meeting held jointly with the Financial Services Commission and the Financial Supervisory Service.

[Asia Economy Reporter Ki Ha-young] Shinhan Card announced on the 30th that it held an online meeting with Shinhan Card customer panels together with the Financial Services Commission and the Financial Supervisory Service at the Shinhan Card headquarters in Euljiro, Seoul.

The customer panel meeting was conducted using a mixed method of online video conferencing and offline in-depth focus group interviews (FGI).

Not only Shinhan Card customer panels but also officials from the Financial Services Commission and the Financial Supervisory Service, as well as Shinhan Card executives and employee panels, attended to share voices from the field regarding customer inconveniences experienced during financial transactions and improvements to financial systems.

In particular, they focused on discussing measures to protect consumers from the increasing ‘electronic financial fraud’ in the untact environment and to create a ‘digital finance-friendly environment’ that enhances accessibility and convenience for ‘financially vulnerable groups’ such as the disabled and the elderly.

Meanwhile, Shinhan Card has been operating a ‘customer panel’ system since 2008, where a consumer advisory group composed of its customers directly experiences Shinhan Card’s products and services and improves systems and operations.

This year, due to the spread of the novel coronavirus infection (COVID-19) and the untact (non-face-to-face) environment, Shinhan Card newly established an ‘online customer panel’ of 2,020 members in addition to the existing consumer advisory group to optimize customer communication, conducting online surveys and customer panel meetings, thereby significantly strengthening the collection of customer opinions online.

In particular, to create a safe and convenient financial environment for all age groups, at least 10% of the customer panel is allocated to elderly people aged 65 or older.

An official from the Financial Supervisory Service who attended the meeting said, “It was a very meaningful case of listening directly to financial consumers’ difficulties and system improvement matters on site through online means, and Shinhan Card’s strong willingness to actively cooperate with supervisory authorities for system improvements made it a good opportunity.”

A Shinhan Card official said, “It was a place where customers and Shinhan Card executives and employees could communicate with one heart and one goal of strengthening financial consumer capabilities,” adding, “Even in the COVID-19 environment, we will always work from the customer’s perspective to continuously strive for first-class consumer protection and inclusive finance so that financial consumers, including financially vulnerable groups, can conveniently carry out their financial lives.”