About
GLN is a Global Payment Hub that links the platforms of major financial institutions, retailers and loyalty point operators around the world to one unique global network, allowing their users to freely pay and transfer digital assets to one another.
Innovation presentation
Global Loyalty Network(GLN) is a service provided by KEB Hana Bank, which is a global payment hub in where each country's financial institutions or payment service companies share merchants network, userbase, and loyalty programs. They participate in the network to enable their users to make payments, remittance, and ATM withdrawal overseas with their e-wallets without installing a separate app.
As global tourism is increasing, a mobile payments market is also rapidly growing. These led to the need for a new global platform for travelers that offers various payment methods and digital assets. Align with this trend, fintech and bigtech are leveraging their technologies and expertises to enter the financial market by offering mobile payment services.
Local payment companies have the appropriate knowledges of their local market and regulations to provide services with the most localized benefits. If they could share their infrastructure together to create the most globalized platform, wouldn't that be such an innovative way to overcome globalization challenges? That’s how GLN idea was born.
To develop such a platform, we formed a business development, partnerships and UI/UX team that collaborated with IT and compliance departments.
Until now, GLN has been connected to HanaMembers, Hana Financial Group's e-wallet. And it launched offline payment service in 2 countries, Taiwan and Thailand; and Global Coupon Mall with coupons from 5 countries available in 7 languages. Additionally, GLN has established a consortium with 25 companies from 9 countries since 2017, and it’s under discussion with 53 companies including 14 global financial institutions.
Uniqueness of the project
GLN supports its partners to expand business globally. Since their system is connected to GLN, they efficiently save time in the development process as well as increase potential sales to foreign users by utilizing the interoperable seamless unique platform. In the network, the parties can upload e-coupons through GLN’s global-friendly features such as multi-lingual function to both users and local merchants. Also, they are able to swap their loyalty points, exchange those points to e-money, and eventually use it as payment methods.
KEB Hana Bank’s vision is to become a data company through the convergence of digital and global. GLN was developed to be an efficient platform that will disrupt the traditional financial services into more stable and digitalized (e.g. remittance on blockchain, API-based system in cloud, etc.). Furthermore, we can anlayze data to provide personalized benefits and enhance the user satisfaction.
