Shinhan Bank X Naver Pay Join Hands... Collaboration on 'MyBiz Business Account' and More

Shinhan Bank announced on the 7th that it has signed a 'Business Agreement for Providing Digital Financial Services' with Naver Pay to offer innovative financial services.

Through this business agreement, the two companies plan to collaborate for mutual development by ▲developing technologies to provide innovative digital financial products and services ▲planning financial products and services suited to the digital environment ▲promoting and marketing to activate the platform.

First, the two companies will cooperate to launch the 'Shinhan Naver Pay MyBiz Business Account,' designated as an innovative financial service by the Financial Services Commission last September, in the first half of next year. Individual business owners using Naver Pay's new integrated business management service 'MyBiz' will be able to easily open a Shinhan Bank account through the platform, and various benefits enhancing user convenience such as real-time account inquiry and transfers, preferential interest rates, and fee exemptions will be provided.

Additionally, Shinhan Bank plans to introduce a new credit evaluation model by combining 'Naver Pay Score,' an alternative credit evaluation model using Naver Pay's non-financial information, and launch a new personal business credit loan product.

A Shinhan Bank official stated, “This business agreement enables us to launch convenient and innovative financial services for small business owners using Naver Pay's MyBiz,” and added, “We will continue to create new innovative experiences for financial consumers by combining differentiated financial and non-financial services based on cooperation between the two companies.”