Providing Data-Customized Services
Record High Levels Since App Launch
The monthly active users (MAU) of Woori Bank's application 'Woori WON (WON) Banking' have surpassed 8 million. Woori Bank plans to expedite the launch of the super app 'New WON Banking' within the year to catch up with leading groups such as KB Kookmin Bank and Shinhan Bank.
According to the financial sector on the 23rd, the MAU of Woori WON Banking as of the end of last year was counted at 8.17 million. This is an 11.8% (860,000) increase compared to the end of the previous year (7.31 million), marking the highest level since the app's launch.
To increase the MAU of Woori WON Banking, Woori Bank carried out a reorganization of the personal marketing team for integrated marketing across all channels last year and built a Customer Data Platform (CDP) to provide customized services. In particular, by building the CDP, they provided personalized services based on data derived from real-time collection and analysis of customers' app usage history.
Specialized services and products within Woori WON Banking were also newly introduced. Since May last year, they launched the 'Time Machine Graph' that analyzes and provides eight indicators including the U.S. stock market conditions, the '9 o'clock Briefing Service' offering daily investment strategies, and a non-face-to-face PB consultation service. They also introduced non-face-to-face exclusive deposit and loan products such as Woori First Installment Savings, Woori Youth Leap Loan, N-day Installment Savings, Refinancing Loans for Office Workers, and Living Expense Loans for Business Owners.
However, Woori Bank's MAU is significantly lower than industry leaders KB Kookmin Bank and Shinhan Bank. KB Kookmin Bank's MAU was 11.62 million (as of the end of Q3 last year), ranking first among commercial banks excluding internet-only banks, and Shinhan Bank also surpassed Woori Bank by a large margin with 10.15 million (as of the end of last year).
Accordingly, Woori Bank plans to achieve an MAU of 9 million within the year by launching the super app 'New WON Banking' in the second half of this year. A super app refers to an app that allows users to access various affiliated services such as banking, insurance, and cards within a single app without installing separate apps. KB Kookmin Bank is pursuing this strategy by upgrading its existing 'KB Star Banking,' while Shinhan Bank is doing so with a separate app called 'Shinhan Super SOL.'
Through the super app, Woori Bank will provide hyper-personalized services via partnerships with industries such as mobility, travel, real estate, telecommunications, and proptech (real estate combined with technology). In line with this, they plan to launch partnership marketing and strategic products. By partnering with companies like Yanolja, they aim to encourage app usage among young customers and attract consumers with special installment savings products commemorating the 125th anniversary of the bank's founding.
A Woori Bank official stated, "As new technologies continue to emerge, we will integrate them to make Woori WON Banking convenient for all customers," adding, "We will grow together with our customers and establish ourselves as a bank that leads future finance."
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