Shinhan Bank Establishes 'Financial Consumer Protection Officer' Position

원본보기 아이콘

[Asia Economy Reporter Haeyoung Kwon] Shinhan Bank announced on the 6th that it has established the 'Financial Consumer Protection Officer' system as part of strengthening consumer protection.

The Financial Consumer Protection Officer system involves deploying dedicated personnel at each regional headquarters of Shinhan Bank to inspect tasks related to consumer protection and support the resolution of customer complaints arising at branches. This initiative reflects the will of Shinhan Bank President Jin Okdong, who has emphasized customer-centricity since the beginning of her tenure.

The main duties of the Financial Consumer Protection Officer include ▲checking the appropriateness of product sales procedures from the customer's perspective ▲preventing payment delays for maturing deposits and outward remittances ▲activities to prevent telecommunication financial fraud. If issues that may cause consumer harm arise, the scope of activities will be flexibly expanded.

To this end, Shinhan Bank hired 23 new personnel last month. As of the 1st of this month, Financial Consumer Protection Officers have been assigned to 22 regional sales headquarters nationwide and one PWM headquarters. The 23 newly hired personnel are retired department heads with long service experience at Shinhan Bank, and it is expected that they will play a significant role in establishing a consumer protection culture in the sales field based on their extensive experience and know-how.

Shinhan Bank has selected consumer protection as its top priority and is redesigning various systems and policies from the customer's perspective. Earlier this year, the Consumer Protection Headquarters was reorganized into the Consumer Protection Group to strengthen consumer protection roles, and the bank introduced and operates the first investment product sales suspension system among commercial banks to protect investors. It is also promoting the inspection of product sales procedures using artificial intelligence (AI) systems.

A Shinhan Bank official said, "The Financial Consumer Protection Officer organization will play a major role in solidifying Shinhan Bank's customer-centric culture," adding, "We will continue to secure customer trust through various systems related to financial consumer protection."

© The Asia Business Daily(www.asiae.co.kr). All rights reserved.