BNK Busan Bank announced on December 26 that it will become the first regional bank to implement the "Bancassurance Digital Counter Service," which processes bancassurance work previously based on paper documents using electronic forms.
This new service is a digital counter system that allows both individual and corporate customers to complete the entire process-from insurance consultation and product explanation to application-by filling out and signing electronic forms on a tablet monitor at the counter.
The bank has standardized the form structure, which previously varied by insurer and product, significantly reducing the number of documents that needed to be filled out from an average of 140 sheets per transaction. Upon completion of the application, the required customer documents are provided in real time via UMS.
Busan Bank expects that the introduction of the digital counter will greatly enhance customer convenience by reducing work processing time, alleviating the burden of filling out paper documents, and preventing omissions and errors.
By reducing paper usage and eliminating back-office tasks, the bank anticipates cost savings. Additionally, automatic checks of required fields, electronic approvals, and digital audits are expected to lower the risks of mis-selling and compliance issues.
Kim Yongkyu, Head of the Management Strategy Group at Busan Bank, stated, "The introduction of the Bancassurance Digital Counter will further accelerate Busan Bank's digital transformation," adding, "We will continue to innovate so that customers can access financial services more quickly and conveniently."
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