Shinhan Bank Opens First 'AI Branch' in Seosomun

Shinhan Bank announced on the 17th that it will open a future-oriented branch applying artificial intelligence (AI) technology, called the ‘AI Branch,’ on the 18th in Seosomun, Jung-gu, Seoul.

The AI Branch is the result of a joint task force team operated by Shinhan Bank, Hyosung TNS, and LG CNS after signing a business agreement in June to implement the bank of the future.

Shinhan Bank’s AI Branch serves as a ‘test bed’ for a future-oriented branch that combines currently available digital financial services with AI technology. Shinhan Bank began developing its own large language model (LLM) this year, the first in the financial sector, to introduce AI into financial operations, enabling the AI to gradually learn customer-related data and improve its performance autonomously.

The most notable feature of the AI Branch is that AI bankers and digital devices handle frequently occurring major tasks. Customers visiting the AI Branch can be guided to service counters by an AI banker at the entrance and can complete common tasks such as opening new accounts and check cards, foreign currency exchange, and reporting changes at the AI banker counters.

As a result, Shinhan Bank can provide more accurate and faster services to customers visiting the AI Branch, while offering more focused consultation services to those requiring professional advice.

The AI bankers are equipped with ‘generative AI’ based on large language models. Unlike traditional digital desks, customers can naturally consult and conduct transactions through conversations with AI bankers, making it easier for digitally vulnerable customers, such as seniors who are unfamiliar with or find it difficult to operate digital devices, to complete their tasks.

There is also an ‘AI Lab’ space to test AI technologies for future application in the bank. Customers can experience future technologies such as holograms, and startups including those from Shinhan Futures Lab participate, operating as an open platform to test AI technologies.

To enhance customer convenience, Shinhan Bank has significantly extended the AI Branch’s operating hours to 9 a.m. to 8 p.m., 365 days a year, including Saturdays and public holidays.

A Shinhan Bank official stated, “The newly launched ‘AI Branch’ is expected to play an important role not only in technological innovation but also in accelerating Shinhan Bank’s overall digital transformation. We plan to continue developing the ‘AI bankers’ and improve the accuracy and efficiency of financial services to continuously enhance customer experience.”