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| Logo of Shinhan Financial Group's One Data network / Courtesy of Shinhan Financial Group |
By Yi Whan-woo
Shinhan Financial Group has formed a single, group-wide network connecting the data of all its affiliates, the lender announced on Monday.
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| Shinhan Financial Group headquarters in Seoul / Yonhap |
The network accordingly analyzes customized data in a more efficient manner.
"We hope to take the initiative in the finance industry's data ecosystem through One Data and also offer customized services for our clients," Shinhan Financial Group said.
It assessed its One Data network as a "cornerstone for digital finance."
"The network will play a central role for group-wide projects aimed at nurturing new growth engines," the company said. "We will continue to maximize customer value and pursue sustainable growth in relation to customers, society and the corporate world."
The country's major financial groups have been focusing on nurturing financial platforms amid economic uncertainties and the blurring of lines between finance and other industries. Woori Financial Group Chairman Son Tae-seung emphasized expansion of the customer-focused digital platform as key for the group's competitive edge in a message to new employees, Monday, and KB Financial Group Chairman Yoon Jong-kyoo also suggested rising as the top financial platform as the group's target for the first half of this year in a strategic meeting with management early this month.
Hana Financial Group Chairman Ham Young-joo included a collaborative paradigm with big techs and upgrading of its platform as a daily financial platform in the company's digital financing innovation strategy, announced Sunday.
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