Global Loyalty Network (GLN)
Elevator pitch
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.
