Oracle Cloud Infrastructure helps transform Hana Financial Group's 'Hana Members,' Korea's largest digital financial lifestyle platform with 15 million users

Rhea-AI Summary

Hana Financial Group (HFG) has completed a significant migration of its essential applications to the public cloud using Oracle Cloud Services as part of its digital transformation. This initiative focuses on enhancing operational efficiency and adapting to customer needs within the rapidly changing financial services sector. HFG's integrated membership service, Hana Members, which boasts over 15 million users, will benefit from improved service offerings through advanced technologies like AI and blockchain. The project underscores Oracle's pivotal role in HFG's innovative strategy and strengthens their partnership.

Positive

• Successful migration of mission-critical applications to Oracle Cloud Services enhances operational efficiency.
• Hana Members platform, with 15 million users, will benefit from advanced technologies like AI and blockchain.
• Project strengthens existing relationship between HFG and Oracle, positioning Oracle as a key cloud provider.

Negative

• None.

SEOUL, South Korea, April 12, 2021 /PRNewswire/ -- Leading the way with an industry first in Korea, Hana Financial Group (HFG) has completed a large-scale migration of its mission-critical applications to the public cloud working with Oracle. The migration is part of HFG's digital transformation of its operations.

Hana Members, HFG's integrated membership service and digital financial lifestyle platform with over 15 million users, will take the lead in this strategic journey to Oracle Cloud Infrastructure. Among its goals: help the bank meet evolving customer needs, enhance business efficiency, and adjust to the rapidly changing business environment in the financial services industry.

Unveiled in October 2015, Hana Members enables customers to earn points based on usage of their Hana credit card and other bank services, such as savings, insurance, foreign exchange, and investments. Members can also earn points at participating Hana Money merchants and use those points for various services and payments. As part of the move, HFG aims to broaden its service offerings by taking advantage of the newest technologies from Oracle, including AI and blockchain.

HFG uses a wide range of Oracle Cloud Infrastructure services, including Oracle Database Cloud Service and Oracle Identity Cloud Service, having migrated the on-premises systems supporting Hana Members in September 2020. These cloud services are helping Hana Members boost operational efficiency and enhance business agility, enabling Hana to better meet customer needs more cost-effectively and deliver unmatched security.

"Such a large-scale cloud transformation project is unprecedented in the finance industry, not to mention within HFG," the company said. "By migrating these mission-critical systems, Hana Members will benefit from innovation driven at a corporate, strategic level, with a focus on enhancing the quality of life for HFG's customers."

HFG added: "With its unparalleled data management capabilities, secure and stable enterprise cloud infrastructure, and groundbreaking autonomous cloud technology, Oracle was the right choice as a company that can work closely with us throughout our digital transformation journey, which is designed to maximize business value."

The contract was won in a competitive tender that included major local and global cloud vendors. It also strengthens the existing relationship between HFG's GLN (Global Lifestyle Network) and Oracle.

"We are proud to continue to be HFG's leading cloud provider and to work on one of the most influential digital transformation projects to be implemented by a leading financial group," said Tom Song, Vice President and Geography Managing Director of Oracle Korea. "We look forward to helping HFG continue their cloud journey to boost their service innovations and more quickly meet diverse and rapidly changing customer needs."

About Oracle
Oracle offers suites of integrated applications plus secure, autonomous infrastructure in the Oracle Cloud. For more information about Oracle (NYSE: ORCL), please visit us at www.oracle.com.

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SOURCE Oracle

FAQ

What is Hana Financial Group's recent cloud migration project involving Oracle?

Hana Financial Group has migrated its mission-critical applications to Oracle Cloud as part of a digital transformation strategy.

How many users does Hana Members have?

Hana Members has over 15 million users.

What technologies is HFG utilizing in their digital transformation with Oracle?

HFG is leveraging AI and blockchain technologies as part of its digital transformation.

What impact will the cloud migration have on Hana Members?

The cloud migration is expected to enhance operational efficiency and service offerings for Hana Members.

When did Hana Financial Group migrate its systems to the cloud?

The migration project was completed in April 2021.