Synergy from Alliance with SK Telecom

Hana Financial Group carves out unique position with its advanced financial smartphone apps

Hana SK Card has secured a special position in the mobile credit card industry, taking advantage of the synergy from its alliance with SK Telecom, along with Hana Daetoo Securities Co., which also carved out a special position in the securities industry by developing an application related to fund operation. This is part of Hana Financial Group's strategy to have all of its financial affiliates take advantage of the advanced smartphone financial technologies being used in all of the group's financial operations.
The financial group has been leading the financial industry in the area of mixing smartphone and manufacturing technologies with financial systems in its operation in the smartphone financial market.
Hana Bank has been able to install the household financing application on Samsung's Galaxy S smartphone as one of its basic functions. The bank has also made available the 'Hana N Bank' application on the Blackberry smartphone for the first time in the banking industry.
The bank's deal with smartphone makers is representative of the convergence between the manufacturing industry and the financial industry, which would increase smart financing alongside the explosive growth of the smartphone market, officials of Hana Bank said.
As such, the financial group has now been providing the smartphone banking service on all three major smartphone operating systems ― the iPhone, Windows mobile, and the Android.
The group has been able to boost user comfort by mixing applications and the Web and has been steadily developing smartphone-linked financial products. The products include 'Hana N Bank,' a smartphone banking system, 'Hana N Money,' an asset management program, and social coupon linked Web and 'Hana N CBS,' for both individual business and corporate financial services.
Hana SK Card has also become the core of the conversion strategy in the mobile finance sector. In November 2009, SK Telecom and Hana Financial Group jointly launched the mobile credit card and it's been a leading the market with the synergy created between finance and communication technologies.
The number of Hana SK Card holders numbered over 100,000 at the end of July, with daily sales revenue breaking the 100 million won level in August.
Using the joint-venture credit card is unlike other simple credit card mobile homepages because it has special features such as the issuance of mobile cards instantly from its app. Recently, the financial group developed a demonstration version of a new technology for settling payments using the smartphones equipped with NFC chips, a revolutionary technology for settling payments between two smartphones.
Hana SK Card turned a profit in the second quarter for the first time since its launch, with expectations high that it will create a whirlwind in the mobile phone financial market.
Hana Daetoo Securities launched FundHana, a free mobile service, in November 2010 through which customers can access information on fund and securities market conditions free of charge through their smartphones.
FundHana has been developed as a standard Web-style application and doesn't require a separate download, unlike smartphone applications, and can be used with smartphones and tablet computers.
Hana Financial Group plans to take up 'smart' as its keyword in its development of financial products, marketing and business operations. The group launched the Smart Convergence Team to strengthen its operation in the sector focused on the online area, including smartphone financial services, in a bid to expand the number of both its individual and corporate customers and to develop financial products to upgrade its services. The group also plans to strengthen its communications with customers and marketing through social network services.
Hana SK Card has also been taking advantage of mobile technology to benefit its customer services through such tailor-made technologies as the automatic notification of special benefits to customers, the coupon purse service and others. nw

Chairman Kim Seung-yu of Hana Financial Group.

Photo on Courtesy of HFG