KEB Hana Bank, one of four major South Korean commercial banks, has attracted global attention through its private banking prowess mainly by taking advantage of artificial intelligence.

By adopting a private banking service -- designed to manage wealth of the affluent through insurance, succession planning and investments in funds and properties -- for the first time among Korean banks in 1995, KEB Hana Bank has long been recognized as a leader in the sector in Korea.

The bank‘s private banking technology has evolved with the combination of artificial intelligence. Launched in July, KEB Hana Bank’s robo-adviser HAI-Robo represented the new wave.

Following the move, KEB Hana Bank in October was awarded “Outstanding Wealth Management Service for the Affluent” in the 27th Global Wealth Summit and Awards 2017 held by Private Banker International magazine in Singapore. KEB Hana Bank has won awards at the ceremony for six consecutive years.

Also in the same month, KEB Hana Bank received “Best Private Bank in Korea” in Global Private Banking Awards 2017 held in London and co-sponsored by magazines, The Banker and Professional Wealth Management. This was the fourth time KEB Hana Bank won the award, after winning for three consecutive years since 2011.

Earlier in February, KEB Hana Bank was awarded “Best Private Bank in Korea” in London in a private banking survey by Euromoney magazine. KEB Hana Bank has won the prize 10 times in 14 chances. 

The bank‘s takeover of Korea Exchange Bank in 2015 has also allowed it to build a track record in foreign exchange capacity as well.

In October, US magazine Global Finance selected KEB Hana Bank as “Best Foreign Exchange Provider in Korea” for a 16th consecutive year and as “Best Sub-Custodian Bank in Korea” for a seventh straight year.

By Son Ji-hyoung (consnow@heraldcorp.com)