February  •  2018

Hana Financial Group To Drive Its Global Loyalty Network With Oracle

Hana Financial Group (HFG) (Chairman Kim Jung-Tai) announced it signed a Memorandum of Understanding (MOU) with Oracle in Singapore yesterday under which Oracle will work with HFG in the building and joint marketing of HFG’s Global Loyalty Network (GLN).

Kim Jung-Tai, chairman of the Hana Financial Group, and Loic Le Guisquet, president of Oracle EMEA & JAPAC, were in attendance at the MOU ceremony.  Both companies confirmed their mutual cooperation for GLN’s successful launch of services and global expansion, and agreed to collaborate on new technologies such as blockchain, membership, e-money and AI through HFG’s business know-how and Oracle’s technology capabilities. HFG will also modularize the results of the project, including digital asset exchange, and conduct consulting and sales.

Kim Jung-Tai said, “Through this collaboration, we expect it will be easier for GLN to expand worldwide using Oracle’s leading and innovative cloud technologies that enable digital transformation.  Building a global digital asset transfer network is a level of innovation that is rarely seen around the world and when the global integration platform is built, GLN’s customers will be able to enjoy locally offered deals and discounts around the world.”

GLN is an innovative integrated platform network that enables financial institutions, retailers and point businesses ,  around the world to connect their digital platforms in one network to freely exchange and use digital assets and electronic money such as points and mileage.  The official gathering ceremony of GLN Consortium was held in November 2017 with 36 companies in 11 countries. It is currently under contract with 24 companies and detailed discussions are underway with 15 banks and 20 retailers.

Meanwhile, on Feb 2, ‘Coupon Mall PyeongChang Edition’ in connection with GLN was opened to keep pace with the hosting of the PyeongChang Winter Olympics. This coupon mall is based on the global platform and is being provided in seven languages including English, Korean, Chinese and Japanese. This service will also be expanded to online channels in 17 countries including global subsidiaries of HFG in Canada, China, Indonesia and GLN’s consortium banks  such as SuMi TRUST Bank in Japan and  Taishin Bank in Taiwan.

Furthermore, a customer is able to experience coupon mall using promoting QR code when visiting foreign exchange counter of KEB Hana Bank at Incheon International Airport during the Winter Olympics. Coupon mall offers foreign tourists visiting Korea during the PyeongChang Winter Olympics information on sightseeing, restaurants, and approximately 1,000 free coupons for major domestic cities such as PyeongChang, Seoul, Jeju, and Busan.