[Banking Service/ Shinhan bank] How to Control the Usage of System Res…
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Shinhan Bank was founded from Hansung Bank in 1897, and it was transformed into Chohung Bank in 1943.
Finally in 2006, the name was changed to Shinhan Bank.
Shinhan Bank has established itself as a representative bank of the Korean financial sector,
receiving a certificate of recognition from the Guinness World Records Association of Korea for 'the Korea’s top bank and the best corporation.
The biggest topic in the financial sector in recent years is digital transformation.
IT has become an essential infrastructure and service for financial and internal business.
Until now, the focus has been solely on assisting financial firms with IT and digital.
However, it is now important to play a leading role in innovating existing finance and creating new businesses.
Management of Digital Channels by Securing Stability of Systems is Becoming a Competitive Force in the Financial Sector
Korea has lagged in the development of the Fintech area compared to infrastructure.
However, the successful market entry of Internet-only banks has informed that many people are interested in internet banking and actively use it.
Although it is a major service that administer personal assets, contactless services are now commonplace.
This soon herald customer-centered, unlimited competition in the financial industry, including the emergence of diverse and innovative financial services
and financial platforms, and the promotion of non-financial firms' market entry.
Shinhan Bank is also attempting various digital channel activities to enhance its market competitiveness through customer experience.
Shinhan Bank is developing a new contactless digital service by introducing a "digital counter" that applies the digital environment to its business branches across all of Korea and by integrating 6 existing mobile platforms to launch new apps, “Shinhan Sol".
A major challenge in this changing digital service environment is ‘service reliability’.
Online, especially mobile service use patterns, are not specific to a particular time or place.
It is not known when users' traffic will surge into a service and raise a problem for it. In fact,
due to overload caused by increased transaction volume at the end of the month,
account transfer and payment of check cards were suspended, causing computer network disruptions.
Security and stability are the most important elements of service
due to the business characteristics of the financial sector.
However, if the threat to stability persists, it will be difficult to implement aggressive digital marketing and customer service,
which could eventually lead to the customer defections, and could fall behind the competition.
Therefore, establishing a stable system for digital channel services is an important task, but achieving this is not easy.
Traffic is unpredictable, making it difficult to sizing system that has enough resources,
and financial systems cannot easily consider scale-Out because of their security business characteristics.
Eventually, Shinhan Bank found the answer with a solution through software.
NetFUNNEL is applied to the authentication certificate’s Login
and Withdrawal button of the bank's online personal banking service and mobile banking service.
Moreover, within each service, NetFUNNEL reliably allocated resources while controlling traffic on a per-button basis.
Therefore, the administrator can control the access request in real time
so that the resources of the entire system remains within the targeted usage even in a traffic-intensive environment.
Stability is paramount to the financial services system.
If a failure occurs even for a short time,
there could be an inspection by the Financial Supervisory Service (FSS) and can also cause fatal financial losses for customers who use the service.
The system should be maintained even in a traffic congestion environment. That's why we need a solution to prevent service failures.
NetFUNNEL can forestall service disruption,
resulting in operational efficiency and a variety of business effects. It is also able to provide new experiences for administrators.
IT administrators were just looking to improve without the necessary measures in the face of a system crash due to heavy traffic.
However, now NetFUNNEL allows administrators to take control of the system without worrying about system failures and
directly control the usage of the entire system resource so that the usage does not exceed the target number for the service situation.
All of these can be operational based on software algorithms without changing existing systems.
NetFUNNEL is the first alternative to operate a more secure and reliable system effectively.