Hana Financial Group (HFG) (Chairman Kim Jung-Tai, www.hanafn.com) 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 Loïc Le Guisquet, president, International, Oracle Corporation, were in attendance at the signing 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 digital institutions and retailers around the world to connect their digital platforms in one network to freely exchange digital assets and electronic money such as points and mileage. The GLN consortium was established 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, it said that a ‘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 be also expanded globally through GLN’s consortium banks including SuMi TRUST Bank in Japan and Taiwan Taishin Bank, and it is currently offering over 1,000 free coupons. Han JunSeong, vice president of KEB Hana Bank said, “We provide foreign tourists visiting Korea during the PyeongChang Winter Olympics with information on sightseeing, restaurants and various free coupons for major domestic cities such as Pyeongchang, Seoul, Jeju and Busan.”