Mortgage Loan Comparison Fintech BankMall Holds Seminar to Protect Financial Consumers' Rights

Fintech company Bankmall announced on the 17th that it held a seminar for its employees to familiarize themselves with the Financial Consumer Protection Act in preparation for launching its "online loan brokerage agency" service, aiming to provide better services to financial consumers and protect their rights and interests. Furthermore, Bankmall plans to have all employees take the qualification exam for loan product sales agents as required by the Financial Consumer Protection Act.

The Financial Consumer Protection Act aims to enhance the rights and interests of financial consumers and establish a sound market order for financial product sales and advisory services by stipulating compliance requirements for financial product sellers and advisors, as well as policies for protecting financial consumers and procedures for financial dispute mediation. This is intended to increase the effectiveness of financial consumer protection and contribute to the development of the national economy.

The seminar was hosted with advice from Attorney Kim Seunghan of the law firm Yulseong. Attorney Kim is a specialist in the Fourth Industrial Revolution who has been actively involved as an expert member of the Ministry of the Interior and Safety's Personal Information Protection Self-Regulation Council, having worked at the Korea Internet & Security Agency (KISA) and IBK Industrial Bank of Korea. The seminar covered key topics including understanding the Financial Consumer Protection Act, practical measures to protect financial consumer rights, changes in customer service systems after applying the Act to all employees, and improvements in the CS system and service quality.

Ahead of the application of the Financial Consumer Protection Act, not only financial companies but also fintech firms are responding swiftly. Bankmall, a platform for comparing mortgage loan interest rates, appears to be ensuring that its internal staff fully recognize the importance of protecting financial consumer rights in providing its services.

Choi Seungil, Director of Bankmall, stated, "The essence of the services we provide lies in a perfect understanding and satisfaction from the customer's perspective from start to finish," adding, "Through this seminar, all Bankmall employees will thoroughly understand the Financial Consumer Protection Act and do their utmost to protect the rights and interests of financial consumers in accordance with financial authority guidelines."

Recently, Bankmall passed Koscom's "Conflict of Interest Prevention Algorithm" review for financial consumer protection and has completed its registration application for the "online loan brokerage agency" with the Financial Supervisory Service, awaiting the results. Bankmall's collateral loan comparison service allows users to compare products not only for apartment mortgage loans but also for jeonse (key money deposit) loans and non-residential real estate.