Shinhan and Duzon Bizon Join Hands to Launch Corporate CB Company 'Techfin Ratings'

'Techfin Ratings,' a corporate credit rating agency jointly established by Shinhan Bank and Douzone Bizon, has officially launched.

On the 30th, Shinhan Bank announced that Techfin Ratings received the main license for corporate credit rating provision from the Financial Services Commission and finally obtained approval for the transfer of the corporate information inquiry license held by Douzone Bizon, becoming the first domestic credit rating (CB) platform operator specialized in corporate finance.

Shinhan Bank and Douzone Bizon underwent about two years of preparation to establish Techfin Ratings. Both parties explained that Shinhan Bank's financial know-how, Douzone Bizon's differentiated corporate data, and artificial intelligence (AI) technology are reflected in Techfin Ratings' new corporate financial services. Additionally, competitiveness has been further strengthened through the participation of Seoul Guarantee Insurance.

The corporate credit rating provision business, which received the main license this time, evaluates corporate credit using various financial and non-financial data and provides the calculated credit ratings externally.

Techfin Ratings has established an accurate credit evaluation system by utilizing reliable information such as corporate customers' tax, accounting, ERP data, and transaction-type information, along with AI technology. It has set corporate CB business and innovative financial intermediation business as its core businesses and plans to promote various services including providing accounting data based on corporate CB, building a corporate information inquiry platform, and issuing corporate credit rating certificates.

Through brokerage of a non-face-to-face accounts receivable factoring product being developed together with Shinhan Bank and Seoul Guarantee Insurance, Techfin Ratings supports the rapid monetization of corporate accounts receivable and plans to introduce an innovative financial intermediation business that predicts corporate funding needs in real time to enable timely procurement of necessary funds.

It is also promoting a business that provides real-time financial and tax information reflecting the latest growth-related information of small and medium-sized enterprises to financial institutions for use in credit evaluation and loan limit decisions, and plans to add services such as ESG evaluation data and monthly financial statements in the future.

A Shinhan Bank official said, “As a corporate-specialized CB platform operator, we will continuously create differentiated models to provide new financial services for small and medium-sized enterprises and aim to assist the management of SME customers through innovative transformation of corporate funding methods.”