The evolving landscape of South Korean retail banking is pushing banks to invest in financial technology to retain and attract customers, even as traditional brick and mortar branches give way to specialised branches.

While many financial institutions in emerging markets are trying to strike the right balance between their physical footprints and digital presence, leading banks in mature markets are proving that digital transformation can boost profitability and efficiency.

Shinhan Bank has launched Korea’s first full service biometric-enabled and unmanned smart digital kiosks that allow customers to do financial transactions through real-time video interaction without the need to visit a physical branch.