[Consumerwide-Youngchul, Woo Reporter/ Yohan, Bok Reporter] The ESG practice movement through strengthening customer-based management is strong in the credit card industry. Implementing a differentiated customer experience which is customer-centered, and practicing sustainable management through ESG practice may accelerate consumption-value of financial consumers focused on value.

On the 28th, followed by the industry, the credit card industry is focusing on implementing differentiated customer experience through listening to customers, in other words, customer-centered management. In particular, it was focused on reflecting the needs of financially vulnerable groups  this year.

First of all, Lottecard is facilitating a customer panel which reflects customer suggestions based on their own experiences after using products and services for field management, since 2014.

The customer panel system is playing a big role in providing genuine services for financial consumers. ‘10th LOCA customer panel’ has begun this year.

This customer panel is made of 15 members at various ages, starting from 2030 MZ generation to 5070 senior generation. In particular, they've chosen a 70-year-old panel preferentially aiming to strengthen activity of financial consumer protection and listening to the digitally vulnerable group.

Customer panels who have been chosen are going to make a user report after using products and services of Lottecard, and suggest improvement points in the financial consumer perspective through on/offline discussion till Dec.

They are also participating in a pre-test for new released products and services this year, and presenting opinions after the test.

Lottecard implies the improvement points and ideas for the field task after evaluation.

Hyundaicard, which has been winning the best class for a continuous 4 years in the factual evaluation on consumer protection hosted by Financial Supervisory Service, which is the first time in the financial company's history, has organized a consumer panel to strengthen consumer protection and reflect genuine ideas of consumers for overall business.

This time, a total of 15 members, which includes 3 people in 20th, 5 people in 30th, 4 people in 40th, and 3 people in 50th, are participating for the financial consumer panel. Though it's made of diverse age groups, missing customers in the 70th who are digitally vulnerable, unlike from Lottecard, leaves a regret. Hyundaicard consumer panel is facilitated till November for 9months, which is 1 month shorter than Lottecard.

Activities are similar to activities of Lottecard. They are going to carry the role of suggesting the improvement points regarding the products and services after participating in the on/offline discussions and monitoring products/service/digital channels of Hyundaicard every month.

Meanwhile, Shinhancard, which has been winning for a continuous 8 years as an allstar business and 16 continuous top honors in the credit card sector at the Korea Management Association hosted '2023 the most respected business in Korea', is expanding ESG management, connecting to a strategy based on finance tasks. One of the representative activities is facilitation of a customer advisory group on a 3000 person scale, which has been newly organized aiming for financially vulnerable groups and a small business customer panel.

It's been actively turned into account in relation to the systems expanding financial convenience and accessibility, focusing on financially vulnerable groups, which includes the elderly and disabled who are considered to be in urgent need of financial accessibility and convenience. Besides, they are running systems like issuing braille-cards, sign language customer service, alarming-appointer services for elderly people, socially vulnerable group care guide.

KB-card, whose win the first for continuous 2 years in the '2022 national customer satisfaction Index report' for creditcard sector, which award has been announced and selected by the Korea Productivity Center, is operating a product specialized customer panel 'Talk Talk Friends' system, and a customer panel group, 'The Easy Talker', which system listens to the customer advices.

Along with that, they've been constantly carrying forward activities for customer satisfaction based on customer value through facilitating 'Rapid complaint processing system' for handling inconvenience of customers speedly, 'Consumer protection system' for monitoring services in all the customer contact point', 'Voice of customers' which delivers voices from the field to the staffs'.

In relation to this, a Hyundaicard related person said, "
Hyundaicard has been strengthening continually in consumer protection by implementing services and products based on listening to the real voices of consumers. We are particularly focusing on reflecting the needs of financially vulnerable group to this consumer panel."