NongHyup Financial, 2nd DT Promotion Supreme Council Meeting... Emphasizing Affiliate Collaboration

Son Byung-hwan, Chairman of NongHyup Financial Group, is presiding over the 2nd 2021 "NongHyup Financial DT Promotion Supreme Council" video conference held on the 29th at the NH NongHyup Financial Group headquarters meeting room in Jung-gu, Seoul.

[Asia Economy Reporter Kiho Sung] NongHyup Financial Group announced on the 29th that it held the '2nd NongHyup Financial DT Promotion Supreme Council' attended by Chairman Son Byunghwan and digital chief officers from all affiliates.

At the video conference meeting held that day, Chairman Son reviewed the first quarter DT promotion status of the affiliates and had in-depth discussions with the attendees on the key tasks to be promoted in the second quarter.

On this day, Chairman Son highly praised NH Investment & Securities' efforts to understand MZ generation customers and its faster response compared to competitors. Since March, NH Investment & Securities has opened the 'NH Super Stock Market' at 'The Hyundai Seoul' in Yeouido, targeting the MZ generation who value unique experiences, making stock investment, which was previously perceived as difficult, as easy as shopping at a supermarket. It was also cited as an excellent case of resolving customer inconvenience by being the first in the industry to introduce the 'Night Home Service' on the Mobile Trading System (MTS), which enhances convenience for customers trading overseas stocks.

NongHyup Bank received praise from affiliates for launching the ‘my QR Branch’ service at the end of March, which resolved inconveniences for both customers and branch employees. ‘my QR Branch’ is a NongHyup Bank mobile branch that allows new product subscriptions without an app or certificate. Customers can open accounts and subscribe to card products non-face-to-face anytime and anywhere using a QR code or URL sent by employees. For NongHyup Bank, which has many institutional and group customers, business can be conducted with just QR guidance without distributing or collecting application forms, receiving great responses from branch employees as well.

Chairman Son encouraged the affiliates' efforts to resolve customer inconveniences and repeatedly emphasized, “In the era of platform competition, to be ultimately chosen by customers, we must change everything from the way we work to products, services, and marketing as a whole to meet customer expectations.”

Accordingly, NongHyup Financial Group announced plans to strengthen two-way communication with customers and actively reflect customer opinions in business improvements. First, NongHyup Bank plans to establish an integrated Voice of Customer (VOC) system by the end of this year to integrate and analyze all VOC information and unify the post-management process.

Additionally, the group will establish a digital marketing collaboration system to innovate marketing capabilities such as products and services. In line with the full implementation of the MyData business scheduled for August this year, the group plans to promote an organic collaboration system by finalizing the scope of data provision and detailed plans among affiliates to provide smooth customer services. At the same time, the group will expand the lineup of non-face-to-face products of affiliates to strengthen competitiveness, develop algorithms that can recommend customized products to customers, activate affiliate-linked marketing, and build a separate marketing platform to support advanced target marketing at the group level.