Shinhan Bank Implements Digitalization of Issuance Documents for the First Time in Banking Sector

[Asia Economy Reporter Kwangho Lee] Shinhan Bank announced on the 23rd that it has gradually digitized the documents provided to customers as part of the Zero-Paper movement to practice ESG (Environmental, Social, and Governance) management.

Following the first phase implemented on September 10, which allowed confirmation of simple deposit certificates on tablet PCs, from the 22nd, the second phase has been underway, delivering investment prospectuses and contracts for trust and fund products via mobile electronic notification or email.

Currently, investment products such as trusts and funds require about 100 printed pages of investment prospectuses and contract documents provided to customers, resulting in extensive use of physical paper and considerable time for new product processing. However, through this digitization, it is possible to reduce printing time and simplify tasks, while customers can check investment prospectuses and contracts anytime without spatial or temporal constraints.

Shinhan Bank expects to save more than 50 million sheets of paper annually generated by the bank through the implementation of the first and second phases of document digitization.

A Shinhan Bank official stated, "We will continue to prioritize reviewing new tasks that frequently generate large amounts of paper at branches and gradually digitize them to lead carbon emission reduction and do our best to practice ESG management."