Shinhan Bank’s retirement wealth management platform is getting a lot of positive response from those planning their finances in an aging society.

“The key point was to break down the cash flow into simple indices so customers can figure out their asset situation at a single glance,” said an official of the bank.

“Before starting to plan the details, it is crucial to enable customers to predict their average income and expenses.”

In April last year, the top bank kicked off Shinhan Future Planning, a new brand dedicated to postretirement asset management, and has allocated 893 asset planners in 781 branches.

One of the core features is S-Future, a consulting program through which customers can calculate their postretirement daily expenses, check whether their current finances are sufficient, and find out how to save on tax payments.

Some 30,000 customers have used the service, either at bank branches or through its official website.

Driving the retirement asset management business was the determination of Shinhan Financial Group chairman Han Dong-woo, officials explained.

“Suggesting financial solutions to retirees is not only an opportunity for new growth but also the moral responsibility of the financial industry,” Han was quoted as saying.

Bank CEO Cho Yong-byeong added that the platform will create a virtuous circle, connecting the bank, its customers and society -- especially in today’s aging society.

By Bae Hyun-jung (tellme@heraldcorp.com)