MERITZ Securities attracted a large number of users with its 'zero (0)' transaction and currency exchange fees policy and has brought in additional experts to improve its Home Trading System (HTS) and Mobile Trading System (MTS) services.
Jo Jae-hyung, former head of the KB Innovation Hub, who led digital innovation at KB Financial Group, has moved to the Innovation Center at MERITZ Securities. The firm has quickly increased subscribers with its free fee policy, and to retain the new users amidst growing dissatisfaction with the complicated user interface (UI), it is accelerating service improvements.
According to the industry, Jo Jae-hyung joined MERITZ Securities last month and is forming a new organization within the Innovation Center. Previously, MERITZ Securities established the Innovation Center within the Retail Division to oversee platform innovation. The Innovation Center is headed by Executive Vice President Lee Jang-wook, a former leader at Naver Pay Securities.
Having worked as the head of Naver's financial services team and collaborated with Mirae Asset Securities in the fintech institutional sector, Director General Jo has led digital innovation for the holding company and bank at KB Financial Group and was responsible for nurturing fintech startups. He worked at APDaphne, an online loan brokerage platform, until last year and joined MERITZ Securities last January. Jo is forming a new team responsible for service planning and project management.
As competition intensifies in the retail market, securities firms are reducing transaction fees to increase their consumer base while also expanding investments to improve both the UI and User Experience (UX) to enhance convenience. Providing an intuitive UI is essential to attracting more financial consumers as long-term clients and improving profitability.