Finda "Get 300,000 KRW Interest Support When Linking MyData"

[Asia Economy Reporter Minwoo Lee] FinDa, a fintech (finance + technology) company specializing in loan management, is providing interest support to some customers who link their accounts to the MyData (personal credit information management) service.

On the 9th, FinDa announced that to commemorate the revamp of its loan management service incorporating MyData, it will hold an event offering interest support to new customers and coffee coupons to existing customers.

For interest support, customers who have loans can automatically enter by installing the FinDa application (app), signing up as new members, and linking MyData in the ‘My Loan Management’ service by the 20th of this month. Among the participants, 20 people will be selected by lottery to receive 300,000 KRW each as interest support. During the same period, the first 10,000 existing FinDa customers who link MyData will receive Starbucks coffee coupons. Detailed information can be found on the FinDa app.

FinDa operates a comprehensive loan management platform that resolves information asymmetry regarding loans and helps customers switch to loans with better terms. Since the service launch, 25% of customers who executed loans through FinDa accessed the app for the purpose of ‘refinancing loans.’ Last year, those who refinanced loans through FinDa lowered their interest rates by an average of 4.2 percentage points (p).

Park Hongmin, co-CEO of FinDa, said, "The newly revamped My Loan Management service helps prevent delinquencies by checking whether the repayment account has sufficient balance as the loan repayment date approaches, and calculates which interest to repay first when extra funds are available to help customers manage their loans wisely." He added, "We will continue to connect customers with the most favorable loan products tailored to their financial situation and characteristics, and strive to build a virtuous loan ecosystem that saves unnecessary loan costs through continuous management."