[Financial IT Forum] Shinhan Bank "Expanding to Metaverse and IPTV"... Making 'AI Bankers' Friendly and Smart

Keynote Presentation on Shinhan Bank's AI-Based Digital Transformation for New Banking

Kim Min-su, Head of Data Science Unit at Shinhan Bank, is giving a presentation on the topic "Shinhan Bank AI-Based Digital Transformation for New Banking" at the 13th Asia Economy Financial IT Forum held on the 24th at Lotte Hotel in Jung-gu, Seoul. Photo by Kang Jin-hyung aymsdream@

[Asia Economy Reporter Yu Je-hoon] "The new banking that Shinhan Bank is contemplating is 'Bank as a Service (BaaS).' Instead of customers seeking out the bank, the bank seeks out the customers. In the future, we plan to expand this service through various channels such as Internet TV (IPTV) and the metaverse."

Kim Min-su, Head of the Data Science Unit (Executive Director) at Shinhan Bank, stated this on the 24th at the Lotte Hotel in Sogong-dong, Seoul, during the '13th Financial IT Forum' hosted by Asia Economy, presenting on the topic of 'AI-based Digital Transformation for New Banking at Shinhan Bank.'

On that day, Kim introduced the 'AI Bank Teller' that Shinhan Bank is focusing on. Using the example of Shinhan Life's virtual human model 'ROZY,' he said, "There are still many hurdles to actually creating AI bank tellers. To have the same effect as a branch, AI bank tellers must be friendly and intelligent. In other words, they must communicate well with customers and provide hyper-personalized services."

Kim also mentioned, "For about a year now, AI bank tellers have been deployed at frontline branches, utilized in concierge services, kiosks, digital desks, and video consultations. Currently, AI bank tellers handle simple consultations, while more complex tasks are handed over to professional counselors. Going forward, we are striving to enable AI bank tellers to serve as bankers not only at branches but also on applications, and even on IPTV or in the metaverse, everywhere."

Regarding hyper-personalized services, Kim said, "Recently, with the combination of large amounts of data and heterogeneous data, AI services have evolved beyond merely recognizing customer activities to the realm of 'prediction,' where the system judges what tasks the customer might need. Shinhan Bank first introduced a robo-advisor system in 2016 for this purpose and has been continuously enhancing it."

Financial consumer protection is also a challenge Shinhan Bank is addressing through AI development. Kim introduced the 'Anti-Phishing Smart 3.0' service, explaining, "When suspicious abnormal behavior occurs, for example, Shinhan SOL requests a review, and if deemed unsafe, it is reported. Additionally, considering that phishing victims or criminals exhibit specific behavioral patterns at ATMs, we have launched and are enhancing services that can proactively prevent such incidents."

Kim emphasized, "If these various services were developed individually, it would be costly and difficult to provide satisfactory services from the bank's perspective. Therefore, we have developed and are utilizing the 'Shinhan AI Core Platform' to develop and learn these services integratively."