Hana Bank wins Digital Banking Award 2022 for mobile services
A promotional image to celebrate Hana Bank winning a Digital Banking Award 2022 in the mobile category / Courtesy of Hana Bank
By Yi Whan-woo
Hana Bank said Tuesday that it won a globally recognized award for its mobile banking service.
The lender won in the mobile category of the Innovation in Digital Banking Awards 2022 from The Banker, a U.K. monthly magazine owned by the Financial Times.
It was awarded for its virtual “My Branch” that connects customers with tellers and managers at physical branches in their neighborhood for one-on-one services via mobile phone.
“My Branch” accordingly brings together convenience and efficiency from both online and offline banking services, to make up for the shortcomings of digital banking, which not all customers find easy to use.
“The application not only offers personalized financial products, organized by branch managers for specific customers, but also presents a different layout and presentation tailored to each user,” The Banker said of “My Branch.”
Citing Hana Bank, The Banker noted the Korean company “only had 'one humdrum banking app' which displayed the same mobile banking screens, products and layouts to all customers,” before the introduction of “My Branch” in April 2021.
The U.K. magazine noted that Hana Bank has organized its developing operation teams with IT resources to work with branch managers ― many of whom are unfamiliar with IT development ― to develop “My Branch.”
The number of accumulated visitors to “My Branch” is now 2 million, and it has acquired 160,000 customers, providing $1.6 billion in personal loans.
It accounts for 34.3 percent of personal credit loans and 18.2 percent of demand deposits at Hana Bank.
In response to winning the award, Hana Bank said it will continue to strive for an “innovative platform that faithfully serves each customer.”
Meanwhile, Hana Bank was named as Bank of the Year 2021 in Korea by The Banker.
The magazine lauded the Korean lender for its “focus on supporting environmental projects and helping its customers to transition towards digital banking.”