Shinhan Bank is one of the top domestic commercial banks in Korea with an asset size of around 427 trillion Korean won, ranking second among the top 10 best banks in Korea selected by Forbes in 2021. The number of digital customers of Shinhan Bank reached over 800,000 users until the end ofSept. 2022.
Due to the increasing use of internet/mobile banking services on transaction concentration days, the bank faced infrastructure resource increase and service disruption issues caused by traffic overload. Furthermore, some service disruptions made it difficult to use core banking services.
To provide more stable banking services, Shinhan Bank introduced NetFUNNEL to control mobile banking transactions on busiest days in a more predictable way and even control major core banking services by service units (personal banking, corporate banking, smart banking, etc.). In addition to traffic control, they linked NetFUNNEL with the existing integrated monitoring dashboard to enable transaction volume tracking and analysis for individual and corporate customers.
According to Market Research Future (MRFR), the mobile banking market is expected to reach USD 3.47 billion at a 15.4% CAGR by 2023. Therefore, with the growth of the mobile banking market, the risk of server downtime or service disruption due to large traffic increases. By introducing NetFUNNEL, Shinhan Bank can provide more stable services to customers, and reduce increasing mobile infrastructure TCO (Total Cost of Ownership) while optimizing the IT resources.
- To cater to the increasing number of mobile banking users, which is growing at an annual rate of 15.4%, the service is provided not only on the web but also on mobile environments such as iOS and Android.
- Reduce the increasing mobile infrastructure TCO and optimize IT resources.
- Through EUM(End User Monitoring), it is possible to provide analysis of the correlation between web experience and transaction volume