"Check Loan Amount in 1 Minute Without Installation or Sign-up"…NongHyup Bank Revamps Digital Consultation System

Other Bank Customers Can Also Check on Mobile Web
Only 5 Steps to Check... Market Prices Available

Kwon Jun-hak, President of NH Nonghyup Bank.

[Asia Economy Reporter Kiho Sung] The digital transformation (DT) management philosophy of NH Nonghyup Bank President Kwon Junhak is accelerating. Nonghyup Bank has revamped its ‘NH Mobile Apartment Loan 2.0’ service. The key feature is that customers can check their loan limits and interest rates via mobile web without installing an application (app), opening an account, certification, or login, making it the first attempt in the banking sector to allow non-customers to use the service remotely.

According to the financial sector on the 3rd, Nonghyup Bank launched the improved version of the digital consultation platform ‘NH Mobile Branch’ for ‘NH Mobile Apartment Loan 2.0’ starting the day before. This product allows salaried workers to apply for loans via mobile without complicated procedures such as visiting the bank or submitting documents. With this service upgrade, checking loan limits and interest rates is now possible remotely.

The loan consultation service can be accessed by anyone, even non-customers of Nonghyup Bank, through portal searches or URLs and QR codes provided by the bank to access ‘NH Mobile Branch.’ The biggest advantage of the revamped loan consultation service is its ‘speed.’ When the reporter personally received consultation for an apartment in the Seoul area, the total time taken to complete the five steps for checking limits and interest rates was less than one minute.

'NH Mobile Branch' screen

In particular, by simply entering the region, apartment name, and size, the system immediately provides KB market prices as well as automatically guides on often overlooked items such as purchase and ownership status, number of houses per household, and whether the applicant is a low-income or actual user, enhancing the accuracy of limit and interest rate inquiries.

This change by Nonghyup is to meet customer demands for highly accessible and simple platforms. In fact, after the product launch in February, the application ratio was 89.8% for Smart Banking and 10.2% for All One Banking, but by June, the ratio shifted to 67.8% and 32.2%, showing a rapid increase in the more accessible and simpler All One Banking. A Nonghyup Bank official said, "This upgrade is to respond to customers’ demands for easier, faster, and more accurate information delivery," adding, "We will continue to pursue various innovations through agile teams within Nonghyup Bank."

President Kwon said, "I am pleased that the banking sector’s first ‘mobile consultation system’ has been introduced," and added, "This is a new attempt by Nonghyup Bank, aspiring to become a customer-centered leading digital finance bank, and we will continue to strive to build a customer-centered comprehensive financial platform."