To attract young parents, Shinhan Bank launched the Shinhan Child Happy Family product portfolio with products such as installment savings, mortgage loans, insurance policies and cash management accounts.
Ellie Mae' s Encompass solution would enable banks, credit unions and mortgage lenders to create and fund mortgages in one system of record for compliance review, quality assurance and improved efficiency at every loan stage.
In October 2013 parliament adopted amendments to the Law on Insurance Activity to recognise and regulate additional products such as travel insurance, mortgageinsurance, legal cost insurance and animal insurance.
In addition to the fees generated on mortgages, such as establishment fees and lenders mortgageinsurance, industry revenue is largely driven by growth in the mortgage assets of authorised deposittaking institutions (ADIs).
3.1. MARKETPLACE PROVIDERS CHALLENGE TRADITIONAL BANKING STRUCTURES
Other products and services - for example personal loans, mortgages, investments, insurance, and cross-border payments - are provided through partnerships with third parties, with integration into the bank' s own interface enabled via open APIs.