Success story
Shinhan Bank uses cloud to reduce operating costs
Overview
Shinhan Bank, Korea’s longest-operating bank, needed to offer customer-centric services across several global locations that each had unique infrastructure requirements. Using Red Hat OpenShift Container Platform and working with Red Hat Consulting, Shinhan Bank built a cloud-native microservices architecture that helped them reduce operating costs by 60% and protect sensitive data while launching new digital services faster.
Red Hat’s comprehensive solution, offered through a subscription-based model, provides a Linux-based container platform supported by robust API management capabilities.
Industry
Financial services
Region
APAC
Headquarters
Seoul, South Korea
Size
13,500 employees
Challenge
Expand global reach on a single platform
Shinhan Bank had 20 countries in their global networks outside of their main location in South Korea. Because each country had unique infrastructure requirements, Shinhan Bank needed a way to address local needs and offer robust support and security without building unique platforms for each of their overseas locations. In adopting a cloud-native strategy, Shinhan Bank realized the need for expert support for container and microservices adoption.
Solution
Use the cloud to centralize global workload management
Shinhan Bank replaced its traditional development and infrastructure processes with cloud-native solutions to focus on its customers while complying with industry regulations. Working closely with Red Hat Consulting, Shinhan Bank outlined a microservices-based, cloud-native technology platform along with a DevOps-based continuous integration and delivery (CI/CD) approach that helped them scale the application programming interface (API)-related services.
Software and services
Business outcome
Reduce operating costs by 60% and speed service launch
With more efficient management and scaling of systems and cloud-based operational infrastructure, Shinhan Bank’s subsidiaries no longer need to operate independent dedicated systems. Shinhan Bank’s global front-end processing system helped reduce time to market for new services by more than 50%. At the same time, their new platform and integration capabilities have also cut operating costs by 60%.
Our digital transformation was more than just a technology upgrade. We worked with Red Hat Consulting to strengthen our global collaboration approach and open source experience. We are now able to bring greater convenience and other benefits to not just our Korean customers but customers across all 20 of our markets.
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Open source fuels innovation. This fact is exemplified best by Red Hat’s customers, who are using open source technologies to change the game. We’re proud to call them “innovators in the open” and share their stories.
