South Korea’s KEB Hana Bank to Embrace Digitalization

April 11, 2019

CEO of South Korea’s KEB Hana Bank, Ji Sung-kyoo, has revealed that the commercial bank is set to embrace digitalization and globalization.

The new CEO of KEB Hana announced that the bank will transform its business to become a data company, with teams of experts already tasked with the development of digital technologies, including artificial intelligence, big data, and blockchain.

Ji said during a press conference at KEB Hana Bank’s headquarters in Seoul, “Our goal is not to adopt a ‘digital touch’ while retaining our traditional banking business, but to transform ourselves from a commercial bank to a data company from the core. We believe this is a path that separates our ‘digitalization’ strategy from that of other banks or companies.”

Next month, KEB Hana Bank is also preparing to launch its “Global Loyalty Network” platform in Taiwan, a system powered by blockchain technology. The platform will allow users to make transactions with digital cash across multiple countries through partnerships with third-party companies.

The CEO expects the new payment system to offer more convenience for customers in South Korea and overseas.

Ji added that the bank is aiming to enter into more partnerships with non-banking companies. KEB Hana has already signed agreements with mobile messaging giant LINE to form a digital bank in Indonesia, expanding its presence outside of South Korea.

Other countries that KEB Hana has planned for expansion include India and China, as well as other ASEAN countries such as the Philippines, Vietnam, and Cambodia.

Source: www.phnompenhpost.com

About Asia Blockchain Review

Asia Blockchain Review is the largest initiative for media and community building in Asia for blockchain technology. It aims to connect all blockchain enthusiasts on a regional scale and facilitate the technological foundation of blockchain through a range of group discussions, technical workshops, conferences, and consulting programs.

Our goal is to cultivate and encourage a collaborative community for our members to gather, share their experiences and endeavors in the blockchain space, and brainstorm the potential uses of blockchain technology.

Follow Asia Blockchain Review on:

Related Article
Blockchain Enables Verification of COVID-19 Immunity
Given the virus is not going to disappear in a hurry and we are some time away from vaccinating the ...

November 21, 2020

Illicit Cryptocurrency Activity: A Concern
Market regulators such as SEC has accepted cryptocurrencies as a financial instrument and are consta...

November 20, 2020

IBM Using Blockchain to Help Businesses Reopen during COVID-19
IBM’s healthcare unit, IBM Watson recently announced that they will soon be launching an app to supp...

November 20, 2020

Canadian Pacific Railway Collaborates with TradeLens
Canadian Pacific Railway recently collaborated with TradeLens in a bid to improve its efficacy as an...

November 19, 2020

We provide information about Asia Blockchain Review latest activities as well as global blockchain news and research. Subscribe to our Newsletter now or Contact us