Samsung Financial and Kookmin Bank Grow 'Monimo' Together... "Launch of Partnership Account"

Samsung Financial Networks (Samsung Life Insurance, Samsung Fire & Marine Insurance, Samsung Card, Samsung Securities) announced on the 4th that it has signed a business agreement with KB Kookmin Bank to provide banking transactions and financial products and services within the integrated financial application ‘Monimo’.

At the signing ceremony held at the Samsung Headquarters in Jung-gu, Seoul, representatives from both companies attended, including Kim Daehwan, President of Samsung Card, representing Samsung Financial Networks, and Lee Jaegun, President of KB Kookmin Bank. Through this agreement, both companies aim to enhance convenience for financial consumers and offer new experiences. Samsung Financial Networks plans to build a lineup of financial products with differentiated benefits on Monimo and continuously provide various services and events.

As the first collaboration case, they plan to introduce a Monimo member-exclusive deposit and withdrawal account. This account will only be available for subscription through Monimo and is designed to offer more benefits according to the user’s level of Monimo usage. Samsung Financial Networks and KB Kookmin Bank are currently undergoing the Financial Services Commission’s innovative financial service designation process for the product launch.

Kim Dae-hwan, President of Samsung Card (fifth from the left), and Lee Jae-geun, President of KB Kookmin Bank (sixth from the left), along with officials from Samsung Financial Networks and KB Kookmin Bank, signed a business agreement for mutual cooperation on the 4th at Samsung Headquarters in Jung-gu, Seoul.

Furthermore, both companies will establish a mutual cooperation system and develop a sustainable collaboration model. They are preparing joint planning of Monimo-exclusive financial products and services, promotion and marketing to activate Monimo, digital technology exchange, and data analysis and utilization.

A representative from Samsung Financial Networks stated, “Samsung Financial and KB Kookmin Bank will come together to present differentiated services centered on Monimo,” adding, “We will combine all our capabilities to create a successful synergy model.”