BankMall, a Specialized Mortgage Loan Platform, Forms Partnerships with 39 Companies, the Most in the Industry

BankMall, a specialized platform for mortgage loans, has signed business agreements with a total of 39 financial institutions as of August 5, with 27 of them being mortgage loan providers, marking the highest number of partnerships among mortgage loan platforms. Due to the nature of the platform, being able to display many financial institutions on the final result page increases the likelihood of showing customers suitable products, making the large number of partner financial institutions highly significant.

BankMall, a company in its 10th year since establishment, started operating a rate comparison service to guarantee borrowers' right to know and promote transparency in the loan market. In line with the Financial Consumer Protection Act, the platform service was launched in January 2022. Within eight months, it surpassed a cumulative loan amount of 1.8 trillion KRW and recorded over 1.2 million cumulative visitors, setting remarkable milestones.

Using a highly accurate algorithm developed in-house, BankMall shows the actual applied interest rates rather than promotional rates, resulting in the highest loan conversion rate in the industry. According to the Q2 performance disclosure of Jeil Bank’s online loan recruitment corporation announced this month, it recorded 55.94 billion KRW in the mortgage loan sector, surpassing Viva Republica (Toss) with 22.23 billion KRW and Bestfin with 2.47 billion KRW, achieving the highest handling amount. As the bank with the most platform contracts, the credibility of this data is very high.

BankMall offers products that meet various customer needs such as interest rates, limits, and prepayment penalties through partnerships not only with Jeil Bank but also with regional banks like Gwangju Bank and Daegu Bank, first-tier banks, insurance companies handling mortgage loans such as Samsung Life and Hanwha Life, second-tier financial institutions including credit unions, savings banks, and capital companies that provide business loans, as well as P2P companies approved for On-Too operations. The number of mortgage loan products alone reaches over 120.

Jokyungseong, CEO of BankMall, stated, “The journey BankMall has taken over the past eight months is supported by financial institutions that trust BankMall’s 10 years of expertise. This trust has become a strength that allows us to provide customers with more accurate mortgage loan information, and countless customers who have experienced BankMall have been able to achieve moving results. I believe the over 5,000 customer reviews so far are proof of this. We hope to deliver even greater satisfaction through active partnerships with more diverse affiliates in the future.”