Hana Bank leads digital revolution in Korea
N-wallet, a digital mobile wallet solution based on NFC technology that acts as a virtual payment system for its technologically-savvy customer base gave Hana a vital boost. August 27, 2012 | Research1. Changing customer behaviour in using financial service channels: Korea Retail financial services are facing tectonic shifts in the way customers are interacting with banks today. Customer value drivers are fragmenting, while heterogeneous demographics and value systems pressure banks to sub-segment in more granular ways to understand and target a client base that makes ever greater use of diverse channels offered, especially instant banking on the go. Ultimately, new smartphones in Korea will move toward standard near field communication (NFC) enablement. According to mobile network operator KT, five million Koreans already have NFC phones as at end 2011, with the payment of bus, subway and taxi fares being the most popular NFC transactions. Adoption rates for NFC phones in Korea to hit 20 million by end 2012 Figure 1. Global milestones in mobile banking and Hana Bank<...
Categories: Innovation,Mobile banking,retail,south korea,technology, Innovation,Mobile Banking,Retail Banking,South Korea,Technology & Operations, Keywords:Hana Bank, NFC, N-Wallet, Shinhan Bank, Industrial Bank Of Korea, ZooMoney, Mobile Money
Hana Bank, NFC, N-Wallet, Shinhan Bank, Industrial Bank of Korea, ZooMoney, Mobile Money
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