Banking Gridlock: Transforming Services for Foreign Customers

• Information

  Banking Gridlock: Transforming Services for Foreign Customers - Information

  Matched Team	Team 76
  Name	FERGUSON BALOYES ALBERTO ALEXANDER	Country	Panama
  Scholarship	G-20	Email Address	aferguson@kdis.ac.kr
  Year	2020	Program	MDP
  Workplace Category	Government	Workplace
  Department		Position

• Brief intro of project

  Banking Gridlock: Transforming Services for Foreign Customers - Brief intro of project

  Title	Banking Gridlock: Transforming Services for Foreign Customers
  Sustainable Development Goals	10. Reduced Inequalities
  Timely Global Issues	4. Find out Global Market
  Sub-topic that describes project	Finance
  Summary of your project	This project addresses financial accessibility challenges faced by foreign residents in Korea due to restrictive banking policies, particularly those related to name character limits and digital service usability. By conducting research on the specific issues foreign residents encounter and developing policy recommendations, this project aims to push for reforms that make banking services more inclusive. The initiative will involve engaging financial institutions, policymakers, and technology providers to update systems and improve digital banking platforms to accommodate diverse customer needs.

• Alumni or organization want to cooperate with

  Banking Gridlock: Transforming Services for Foreign Customers - Alumni or organization want to cooperate with

  Specific alumni in mind
  Specific nationality of the alumni in mind
  Specific organization(s) / workplace(s) in mind
  Specific work position(s) in mind

• Details of Cooperation Project

  Banking Gridlock: Transforming Services for Foreign Customers - Details of Cooperation Project

  Objective of the Project	The project will identify and address financial accessibility challenges for foreign residents in Korea. Through surveys and interviews, it will document issues related to digital banking platforms, name character limits, and language barriers. Based on findings, it will recommend regulatory and technological reforms to improve financial inclusion and customer service accessibility. A policy framework will be developed to help financial institutions adopt user-friendly solutions for foreign customers.
  Expected Benefits from the Project	The project will help improve banking access and digital usability for foreign residents, allowing them to use financial services without unnecessary restrictions. It will support the financial inclusion of international workers, students, and business owners so they can more easily access the purchase of securities as stocks and shares, while helping Korea’s financial sector address inefficiencies. The findings will provide policy recommendations for financial institutions and regulators to improve service delivery and customer experience.
  Anything you would like to inform the potential partner	This project is based on my award-winning essay from The Korea Times - Woori Bank Economic Essay Competition, which examined banking challenges for foreign residents in Korea. It will produce reports, policy briefs, and recommendations to support financial sector reforms and inform policymaking.