Shinhan Bank offers AI interpretation service for foreigners

Shinhan Bank, one of South Korea's five major commercial banks, is enhancing services for foreign customers with the introduction of a new speech-to-text interpretation service at its brick-and-mortar branches.

On Wednesday, the bank announced the launch of its "Banking for Everyone" service, designed to assist foreign customers facing communication challenges due to language barriers or disabilities.

The service converts spoken language into text for both bankers and customers via a transparent display, offering real-time interpretation. It supports five languages: English, Japanese, Chinese, Vietnamese and Indonesian.

Shinhan Bank is providing this service in collaboration with local mobile carrier SK Telecom, utilizing the company's AI-based simultaneous interpretation solution, TransTalker.

The "Banking for Everyone" service is currently being piloted at the Sillim Branch in Gwanak-gu, Seoul, which specializes in serving senior customers, and at the Hanyang University branch in Seongdong-gu, known for its large population of foreign students. Shinhan Bank plans to officially roll out and expand the service to other branches in the near future.

"We anticipate that this new service will make banking more convenient for customers with hearing impairments and foreign customers. We will continue to drive digital innovation to address the challenges customers face during their banking experience," a Shinhan Bank representative stated.

This service is the latest in Shinhan Bank's ongoing efforts to improve accessibility for customers facing difficulties with financial services. In 2022, the bank became the first commercial bank to introduce the Smart Kiosk Sign Language Service and Text-Based Service at its branches. In July 2023, it expanded its sign language services to the digital platform by launching the "Remote Sign Language Service" on the KakaoTalk messenger app.