Mortgage Loan Platform BankMall Signs Business Agreement with Danwi Credit Union

Bankmall, a specialized platform for comparing mortgage loans, announced that it has signed a loan brokerage business agreement with five Shinhan Credit Unions (Gimpo Hangang, Daechang, Sogong, Seunghak, Yeonhui).

This partnership is a direct contract with branches rather than with the Shinhan Credit Union Central Association, making Bankmall the only platform in Korea that allows users to explore mutual finance products. This further solidifies its position as the number one specialized mortgage loan platform and provides information from the fifth largest number of financial institutions among domestic platforms, including big tech companies. Mutual finance offers advantages such as lower interest rates on credit loans, personal business loans, and mortgage loans compared to savings banks, thereby expanding the range of product choices for Bankmall users.

Bankmall, an online mortgage loan comparison platform, has eliminated physical barriers by partnering with unit Shinhan Credit Union branches divided by region to offer various financial products to customers. Through active expansion of branch partnerships, it is building a service that allows users nationwide to check mutual finance loan products without regional restrictions.

Bankmall aims to partner with up to 30 unit Shinhan Credit Unions within the year and targets onboarding 70 financial institutions in the first half of the year, striving to provide consumers with more accurate information.

Jonghyuk Lim, Senior Manager at Bankmall, stated, “Even when mutual finance releases products with comprehensive advantages such as interest rates and limits, countless costs and resources are consumed before they reach consumers. However, Shinhan Credit Union has been able to expand its customer acquisition channels widely without resource loss by utilizing Bankmall’s online loan comparison platform. Financial institutions can expect reduced sales costs, which is anticipated to translate into benefits for customers in the form of lower interest rates.”