Accelerated launch of digital services by more than 50%
By taking advantage of Red Hat OpenShift’s global clustering feature, Shinhan Bank can now centrally manage the workloads of its foreign subsidiaries. Using 3scale API Management and Red Hat Fuse lets the bank operate workloads by country, eliminating the need to adapt its core front-end processing system for each country’s infrastructure.
Development with third-party fintech partners is also more efficient. Partners can check integration specifications in advance through Shinhan Bank’s Dev Portal service, speeding contract negotiations. Using the OpenAPI Specification reduces integration testing time, while flow control, billing policies, and API policies for each partner managed through 3scale API Management reduce development time while improving data and infrastructure security.
Compared to other open banking Software-as-a-Service (SaaS) options the bank considered, Shinhan Bank’s global front-end processing system has helped it reduce time to market for new services—including a digital payment service and subsidiaries’ digital banking experiences—by more than 50%.
Standardized on a CI/CD approach optimized for hybrid cloud
Korea’s Regulation on Supervision of Electronic Financial Transactions requires banks to complete an approval stage before distributing customer-facing services. To comply, Shinhan Bank worked with Red Hat Consulting to implement a DevOps-based CI/CD process with an integrated approval system. This solution creates a standardized, compliant foundation for transitioning services to other cloud or PaaS environments or expanding platform resources to meet future business needs.
“With Red Hat Consulting’s support, we believe Shinhan Bank became the first Korean bank to establish and apply standard CI/CD processes optimized for hybrid cloud,” said Si Hyoung.
Simplified container and microservices adoption with expert support
Effective digital services are key to staying competitive in the financial services market. Shinhan Bank worked closely with Red Hat Consulting to outline its DevOps organizational structure and support its transition to CI/CD and automation approaches. With Red Hat managing the creation of its new front-end processing system platform, the bank’s teams could instead focus on implementing microservices and gaining enterprise open source experience with less risk.
“Early in the project, we had a Discovery Session with Red Hat consultants to get answers to technology inquiries, learn about enterprise open source, and to align Red Hat's architecture with our goals,” said Gwang Joong. “We also worked with Red Hat’s engineers to learn more about open source ecosystems as we continued the project."
Several global development and ICT staff completed Red Hat Training courses on OpenShift development and administration. The bank also worked with Goodmorning Information Technology (GIT), a Red Hat partner, to strengthen its development capabilities with step-by-step support and pair programming.
“I always emphasize to my staff that they should try and gain new experience, even though they might fail. It’s the best way to enhance their abilities and confidence with new technologies,” said Si Hyeong Bae, CIO and Head of ICT at Shinhan Bank. “But we can’t focus on innovation without solid support, and Red Hat Consulting provides that reassurance.”
Reduced development and operating costs by 60%
Shinhan Bank’s new platform and integration capabilities have also cut operating costs by 60%. With more efficient management and scaling of system and operational infrastructure, foreign subsidiaries no longer need to operate independent dedicated systems.
“With global clustering capabilities from our Red Hat solution, we do not have to custom develop a FEP [front-end planning] platform for each country,” said Gwang Joong. “As a result, we now have a more efficient architecture that minimizes operating costs.”
