Daol Savings Bank Launches Exclusive Employee Loan Product for Toss

Customized Loan Products for Employees and Business Owners
"Minimizing Loan Blind Spots and Offering Preferential Interest Rates"

Daol Savings Bank announced on the 23rd that it has launched a loan product exclusively for Toss, called 'Fi Daol Savings Bank x toss', in partnership with Viva Republica, the operator of the mobile financial platform Toss.

The product was developed using Toss's alternative data credit evaluation model. There are several offerings: 'Fi Employee toss' for salaried workers and freelancers, 'Fi Business toss' for self-employed individuals in need of business funds, and products for those requiring household or living expenses.

Each product is designed to allow for multifaceted evaluation according to the loan recipient. In particular, Toss's non-financial data is utilized in the screening process, enabling customers who have been disadvantaged by traditional credit evaluation systems due to a lack of financial transaction history to access loan products under reasonable conditions.

Toss is an integrated financial platform company that provides large-scale loan comparison services and comprehensive management of customers' asset status. Through the Toss application, users can compare loan products from over 80 financial institutions at a glance. If users link their assets, they can also check their income and expenditure details, card usage, insurance, and more.

Daol Savings Bank has incorporated alternative information such as customers' spending regularity, expenditure stability, and financial asset accumulation habits as screening factors, based on the characteristics and data of the Toss platform, so that customers can benefit from favorable interest rates. Through this differentiated screening system, the bank expects that customers in financial blind spots may receive up to a 0.5% preferential interest rate.

Kim Jungsoo, CEO of Daol Savings Bank, stated, "By collaborating with Toss, which possesses a wide range of non-financial data, we have been able to expand financial access for customers who lack sufficient credit information," adding, "We plan to continue launching loan products under reasonable conditions."

Fi Daol Savings Bank X toss allows for 24-hour loan applications through Toss. Customers can check their loan status in real time via the Daol Digital Bank Fi app and the Toss app.