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Shinhan Bank plans to strengthen Indonesian foothold.

Global Banking News-September 11, 2019--Shinhan Bank plans to strengthen Indonesian foothold

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Global Banking News - 11 September 2019

Shinhan Bank (NYSE: SHG) (KS: 055550) has said that it is planning to strengthen its foothold in Indonesia by releasing its mobile banking platform - Shinhan SOL Indonesia - which will enable customers there to use banking services more conveniently, Korea Times has reported online citing a statement from the bank.

This is the second time the bank has launched its SOL mobile banking platform in another country. According to the bank, SOL had also earned favourable reviews in Vietnam, since its launch there in November 2018.

'Given that the island country offers far slower mobile network speeds compared to its neighbours, our new app shows signal strength and is equipped with a technology that enhances speeds of the app and transactions,' a Shinhan Bank official said. 'In addition, users of the app do not need to possess virtual one-time password (OTP) cards, because they can use smartphone-based m-OTP instead.'

Shinhan Indonesia Bank CEO Hwang Dae-geu said, 'With the release of SOL Indonesia, Shinhan Indonesia Bank, which was established four years ago, has been able to compete with local major banks in terms of digital capability.'

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Publication:Global Banking News (GBN)
Geographic Code:9INDO
Date:Sep 11, 2019
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