KB Kookmin Bank Launches KB Smart Loan, a Mobile Credit Loan in Cambodia

[Asia Economy Reporter Park Sun-mi] KB Kookmin Bank announced on the 6th that it has launched a mobile-only credit loan, KB Smart Loan, locally in Cambodia.

KB Smart Loan is a product that provides instant loan limits and interest rates through real-time non-face-to-face identity verification and credit evaluation for high-quality employees on the 'Liiv KB Cambodia' app. Through this, the loan screening period, which usually took about a week, has been shortened to be completed on the day of application. KB Smart Loan allows applicants to check the loan application results in real time on the app and offers loans up to $30,000.

In particular, KB Smart Loan enhances non-face-to-face competitiveness in overseas markets by allowing credit loan applications through self-camera identity verification without visiting branch counters via non-face-to-face identity authentication.

Kim Hyun-jong, head of KB Cambodia Corporation, said, “We will expand the local loan market base by combining the innovative digital experiences such as non-face-to-face products and authentication systems accumulated through KB Smart Loan with Prasac’s network in the future,” adding, “Through this, we plan to lead the digital financial market in Cambodia.”