Hana Financial's Travlog tops 10 mil. users amid digital innovation drive

Hana Financial Group Chairman Ham Young-joo, center, poses with group officials and customers at the group's headquarters in Seoul, Friday. Courtesy of Hana Financial Group

Hana Financial Group’s Travlog platform has surpassed 10 million users, a feat highlighting the platform’s dominance amid the group’s accelerating shift toward digital travel finance services for outbound tourists, the group said Sunday.

This solidifies Hana’s position as a leader in overseas payment and foreign exchange services amid fierce competition between banks and fintech firms to lock in a growing number of Korean travelers seeking easy, mobile-enabled financial services abroad.

The group said Travlog has logged 5.4 trillion won ($3.6 billion) in foreign exchange transactions as of last week, the largest amount recorded by any financial platform in Korea.

It has also maintained the top market share in the overseas debit card market for 34 consecutive months.

Launched in July 2022, the platform was the first financial entity to introduce a fee-free foreign exchange service for international travelers.

It also removed overseas remittance fees and overseas ATM withdrawal fees.

As of December, these services led to a combined 336 billion won in savings for users.

It services 58 currencies on the Hana Money app and offers global services without overseas transaction fees.

Its partners include Mastercard, Visa and UnionPay, allowing customers to connect accounts from all banks, brokerages and savings banks.

The group held a ceremony at its headquarters in Seoul on Friday to celebrate the milestone, attended by Chairman Ham Young-joo, group executives and employees.

The group also invited the 10 millionth subscriber to the event and gifted the customer 2 million won worth of Hana Money.

“We will continue to create travel-related financial services tailored to consumers who want convenience, transparent pricing and digital integration,” the group said.