On June 8, the bank announced that it held the inauguration ceremony for the "Shinhan Cooperative Bank Next-Generation Task Force" on June 5 at its headquarters in Daejeon. The event aimed to formalize the project’s implementation framework and consolidate organizational capabilities for stable preparation and successful execution.
The task force will assess key areas such as operations, channels, and infrastructure, incorporating feedback from Shinhan's field operations to enhance the effectiveness of the next-generation information system development.
This next-generation project is a long-term core initiative designed to respond to the rapidly changing financial landscape and advancements in digital technology. It focuses on enhancing non-face-to-face financial processes and establishing a robust and scalable information technology (IT) infrastructure. The goal is to improve operational efficiency for member cooperatives nationwide and enhance financial convenience for members, thereby strengthening the competitiveness of on-site financial services.
The project builds on preliminary work that began last year, including consulting and data organization. Shinhan plans to systematically prepare for the project under the task force's leadership, with the $3.5 billion initiative set to commence in 2027 and a phased rollout targeting a system launch in the second half of 2029. The funding will be allocated to enhance the digital financial infrastructure across operations, channels, and overall infrastructure.
"The next-generation project will be a key growth driver as we prepare for the next 100 years of Shinhan Cooperative Bank," said Ko Young-cheol, chairman of Shinhan Cooperative Bank. He added, "While actively responding to changes in the digital financial environment, we will steadfastly uphold our essence as a reliable financial partner for the public."
* This article has been translated by AI.
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